This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0407 - Eliminates the requirement of a summary for life insurance policies marketed with an illustration
SB 407 - Fiscal Note

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO.: 1715-01

BILL NO.: SB 407

SUBJECT: Medical Insurance

TYPE: Original

DATE: February 10, 1999


FISCAL SUMMARY

ESTIMATED NET EFFECT ON STATE FUNDS

FUND AFFECTED FY 2000 FY 2001 FY 2002
None
Total Estimated

Net Effect on All

State Funds

$0 $0 $0



ESTIMATED NET EFFECT ON FEDERAL FUNDS

FUND AFFECTED FY 2000 FY 2001 FY 2002
None
Total Estimated

Net Effect on All

Federal Funds

$0 $0 $0



ESTIMATED NET EFFECT ON LOCAL FUNDS

FUND AFFECTED FY 2000 FY 2001 FY 2002
Local Government $0 $0 $0

Numbers within parentheses: ( ) indicate costs or losses

This fiscal note contains 2 pages.

FISCAL ANALYSIS

ASSUMPTION

The Department of Insurance assumes this proposal would not fiscally impact their agency.



FISCAL IMPACT - State Government FY 2000 FY 2001 FY 2002
(10 Mo.)
$0 $0 $0
FISCAL IMPACT - Local Government FY 2000 FY 2001 FY 2002
(10 Mo.)
$0 $0 $0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.


DESCRIPTION

This proposal eliminates the requirement of a summary for individual and group life insurance policies marketed with an illustration.

This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.

SOURCES OF INFORMATION

Department of Insurance







Jeanne Jarrett, CPA

Director

February 10, 1999