Fiscal Note - State of Utah - 2012 General Session
HB0061S01 - 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 Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Restricted Funds | $0 | $1,500 | $0 |
| Total Revenue | $0 | $1,500 | $0 |
| Expenditure: | |||
| 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.
| 1/26/2012, 11:08:14 AM, Lead Analyst: Wilko, A./Attny: PO | Office of the Legislative Fiscal Analyst |