SB 0430 - Fiscal Note

Fiscal Note - SB 0430 - Establishes that director must set an equal amount for pay claims and redefines term insurance policy administrator

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO.: 1844-01

BILL NO.: SB 430

SUBJECT: Insurance Administration

TYPE: Original

DATE: March 17, 1999

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FISCAL SUMMARY

ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED	FY 2000	FY 2001	FY 2002
None	$0	$0	$0
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	$0	$0	$0
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

Officials of the Department of Insurance assume the proposal would have no fiscal impact to 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

The proposal would require the threshold amount for pay claims set by the director of the Department of Insurance to be applied equally to both Missouri-based and non-Missouri based insurance companies. The proposal also removes references to workers' compensation insurance from the definition of an insurance policy administrator.

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

March 17, 1999