Honorable Tom Oliverson, Chair, House Committee on Insurance
FROM:
Jerry McGinty, Director, Legislative Budget Board
IN RE:
HB2017 by Oliverson (Relating to innovation waivers for certain insurance laws, regulations, and requirements; authorizing a fee.), As Introduced
The fiscal implications of the bill cannot be determined because the amounts and timing of any filing fee revenue are unknown.
The bill would amend the Insurance Code to allow the Commissioner of Insurance to grant a waiver with respect to any specific insurance law, regulation, or requirement in certain circumstances. An application for such a waiver would be required to include a filing fee in an amount determined by the commissioner.
Based on the analysis of the Trusteed Programs within the Office of the Governor, Comptroller of Public Accounts, and the Department of Insurance, any duties and responsibilities associated with implementing the provisions of the bill could be accomplished by utilizing existing resources.
The fiscal impact on the state cannot be estimated as the amounts and timing of any filing fee revenue are unknown. The bill states that the Commissioner could not grant a waiver with respect to the application of any taxes or fees.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies:
300 Trusteed Programs Within the Office of the Governor, 304 Comptroller of Public Accounts, 454 Department of Insurance