SB 0896 - Fiscal Note

Fiscal Note - SB 0896 - Changes Order of Payments By Dissolved Insurers

L.R. NO.  3400-03
BILL NO.  Truly Agreed To and Finally Passed SCS for SB 896
SUBJECT:  Receiverships, Insurance, Debts
TYPE:     Original
DATE:     April 18, 1996



                              FISCAL SUMMARY
                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None

Total Estimated
Net Effect on All
State Funds                     $0                  $0                $0


                   ESTIMATED NET EFFECT ON FEDERAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None

Total Estimated
Net Effect on All
Federal Funds                   $0                  $0                $0

                    ESTIMATED NET EFFECT ON LOCAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

Local Government                $0                  $0                $0


                              FISCAL ANALYSIS

ASSUMPTION

Officials from the Department of Insurance stated that passage of this
legislation would have no fiscal impact on their agency.

FISCAL IMPACT - State Government FY 1997   FY 1998   FY 1999
                                (10 Mo.)

                                      $0        $0        $0

FISCAL IMPACT - Local Government FY 1997   FY 1998   FY 1999
                                (10 Mo.)

                                      $0        $0        $0

DESCRIPTION

This act revises the order for distribution of the assets of dissolved
insurers.  Any debt to the United States shall be paid after all claims have
been paid, rather than before such claims are paid.

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