Pandemic Darlings The pandemic economy, in original documents
Home Source documents Individual State Agency Fiscal Note — 5806 SB, Insurance company data (160-Office of Insurance Commissioner)

Individual State Agency Fiscal Note — 5806 SB, Insurance company data (160-Office of Insurance Commissioner)

Summary

Individual State Agency Fiscal Note for 5806 SB, titled Insurance company data, from the 160-Office of Insurance Commissioner, with an OFM review date of January 15, 2024. Part I is marked No Fiscal Impact. The narrative states that Section 1 authorizes the Office of Insurance Commissioner (OIC) to share documents with other state agencies as long as the recipients agree to maintain the confidentiality of the documents. It also states that the section exempts from public disclosure documents provided to the OIC by the federal government related to emergency management, hazard mitigation, and the national flood insurance program.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Cite this document

“Individual State Agency Fiscal Note — 5806 SB, Insurance company data (160-Office of Insurance Commissioner).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2024-01-16-a31644-d264692-5806-sb-fn-final-01-15-24-926dcc656c/, SHA-256 3258651f32b804f65e34e4ad8861f4572776408c997adaf4f7d9d2a39d632646.

Full text

                              Individual State Agency Fiscal Note

Bill Number:        5806 SB                Title:     Insurance company data                                    Agency: 160-Office of Insurance
                                                                                                                        Commissioner

Part I: Estimates
 X      No Fiscal Impact

Estimated Cash Receipts to:

       NONE


Estimated Operating Expenditures from:
 NONE


Estimated Capital Budget Impact:

      NONE




     The cash receipts and expenditure estimates on this page represent the most likely fiscal impact. Factors impacting the precision of these estimates,
     and alternate ranges (if appropriate), are explained in Part II.

  Check applicable boxes and follow corresponding instructions:
        If fiscal impact is greater than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete entire fiscal note
        form Parts I-V.
        If fiscal impact is less than $50,000 per fiscal year in the current biennium or in subsequent biennia, complete this page only (Part I).

        Capital budget impact, complete Part IV.

        Requires new rule making, complete Part V.


     Legislative Contact:     Kellee Gunn                                                     Phone: 786-7429                  Date: 01/10/2024
     Agency Preparation:      Andrew Davis                                                    Phone: 360-725-7170              Date: 01/15/2024
     Agency Approval:         Joyce Brake                                                     Phone: 360-725-7041              Date: 01/15/2024
  OFM Review:                 Jason Brown                                                     Phone: (360) 742-7277            Date: 01/15/2024

Form FN (Rev 1/00) 189,687.00                                                                                                        Request # 24-23-1
FNS063 Individual State Agency Fiscal Note                               1                                                               Bill # 5806 SB
Part II: Narrative Explanation
II. A - Brief Description Of What The Measure Does That Has Fiscal Impact
Significant provisions of the bill and any related workload or policy assumptions that have revenue or expenditure impact on the responding agency by
section number.

 Section 1 authorize the Office of Insurance Commissioner (OIC) to share documents with other state agencies as long as
 the recipients agree to maintain the confidentiality of the documents. The section also exempts from public disclosure:
 • documents, materials, or information provided to the OIC by the federal government related to emergency management,
 hazard mitigation, and the national flood insurance program; and
 • data requested by the OIC from regulated property and casualty entities for the purpose of understanding insurance
 market conditions outside the context of market conduct action. However, the OIC can report on this collected property and
 casualty data in the aggregate and in a way that does not expose information related to individual companies.

 The frequency of these types of records requests is low. Therefore, the OIC assumes that any minor impacts to workload
 will be absorbed through the normal course of OIC business. No fiscal impact.
II. B - Cash receipts Impact
Cash receipts impact of the legislation on the responding agency with the cash receipts provisions identified by section number and when appropriate, the
detail of the revenue sources. Description of the factual basis of the assumptions and the method by which the cash receipts impact is derived. Explanation
of how workload assumptions translate into estimates. Distinguished between one time and ongoing functions.

II. C - Expenditures
Agency expenditures necessary to implement this legislation (or savings resulting from this legislation), with the provisions of the legislation that result in
the expenditures (or savings) identified by section number. Description of the factual basis of the assumptions and the method by which the expenditure
impact is derived. Explanation of how workload assumptions translate into cost estimates. Distinguished between one time and ongoing functions.


Part III: Expenditure Detail
III. A - Operating Budget Expenditures
     NONE
 III. B - Expenditures by Object Or Purpose
         NONE


 III. C - Operating FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part I
and Part IIIA.
 NONE



III. D - Expenditures By Program (optional)
 NONE


 Part IV: Capital Budget Impact
  IV. A - Capital Budget Expenditures
       NONE

 IV. B - Expenditures by Object Or Purpose
        NONE

 IV. C - Capital Budget Breakout
 Acquisition and construction costs not reflected elsewhere on the fiscal note and description of potential financing methods.


Insurance company data                                                                                           160-Office of Insurance Commissioner
Form FN (Rev 1/00) 189,687.00                                                                                                       Request # 24-23-1
FNS063 Individual State Agency Fiscal Note                                2                                                              Bill # 5806 SB
       NONE

 IV. D - Capital FTE Detail: FTEs listed by classification and corresponding annual compensation. Totals agree with total FTEs in Part IVB.


      NONE

Part V: New Rule Making Required
Provisions of the bill that require the agency to adopt new administrative rules or repeal/revise existing rules.




Insurance company data                                                                                          160-Office of Insurance Commissioner
Form FN (Rev 1/00) 189,687.00                                                                                                      Request # 24-23-1
FNS063 Individual State Agency Fiscal Note                               3                                                              Bill # 5806 SB

File and source

File
2024-01-16_a31644_d264692_5806-sb-fn-final-01-15-24.pdf
Size
92,775 bytes
SHA-256
3258651f32b804f65e34e4ad8861f4572776408c997adaf4f7d9d2a39d632646
Our copy
2024-01-16_a31644_d264692_5806-sb-fn-final-01-15-24.pdf
Original
No public link identified.
Back to top