Fiscal Note - State of Utah - 2012 General Session

HB0061 - Portable Electronics Insurance Related Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill will cost the Department of Insurance $1,500 one-time from Insurance Department Restricted Account. The cost will be offset by fees assessed in the bill. These fees will be collected every other year.

State Budget Detail TableFY 2012FY 2013FY 2014
Restricted Funds$0$1,500$0
   Total Revenue$0$1,500$0
Restricted Funds$0$1,500$0
   Total Expenditure$0$1,500$0
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)):
Portable electronic insurance carriers would be assessed a $100 license fee every two years. There are 15 of these carriers as a result the cumulative cost would be $1,500.

1/16/2012, 8:04:21 AM, Lead Analyst: Wilko, A./Attny: POOffice of the Legislative Fiscal Analyst