Fiscal Note - State of Utah - 2012 General Session
HB0029S01 - Insurance Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill will cost the Department of Insurance $311,500 annually to administer the fraud provisions of the bill. The costs are offset by the increased fees provided in the bill.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Restricted Funds | $0 | $311,500 | $311,500 |
| Total Revenue | $0 | $311,500 | $311,500 |
| Expenditure: | |||
| Restricted Funds | $0 | $311,500 | $311,500 |
| Total Expenditure | $0 | $311,500 | $311,500 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $0 | $0 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill will result in increased assessments on 1,580 companies which vary from $50 to $2,650 annually.
| 1/26/2012, 11:04:54 AM, Lead Analyst: Wilko, A./Attny: PO | Office of the Legislative Fiscal Analyst |