COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3580-03
Bill No.: Perfected SCS for SB 1066
Subject: Attorneys; Civil Procedure; Liability; Automobile Insurance
Type: Original
Date: March 31, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials from the Office of the Attorney General, Department of Labor and Industrial Relations, Department of Insurance, and the Office of State Public Defender assume the proposed legislation would have no fiscal impact on their agencies.
Officials from the Office of State Courts Administrator assume the proposed legislation would have no fiscal impact on the courts.
| FISCAL IMPACT - State Government | FY 2005 | FY 2006 | FY 2007 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2005 | FY 2006 | FY 2007 |
| $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 proposed legislation would modify provisions of the tort victims' compensation fund. Tort victims of uninsured motorists whose claims were settled within the policy limits of applicable uninsured motorist insurance coverage would be added to coverage from the fund.
The proposal would provide that claims from the fund would be paid on a pro rata basis before September 30th in the next succeeding year based upon the annual claims period in which the application to the fund was made. Currently, claims from the fund are paid in chronological order with the oldest claim being paid first. If no funds are available for the payment of claims, the division of workers' compensation would be authorized to suspend any investigation or hearing of claims until such time as moneys in the fund exceed $500,000. Currently, the division is authorized to suspend action on claims until such time as the fund exceeds $100,000. Once an award is paid in full or on a pro rata basis, a claimant would not collect additional payment from the fund.
The proposed legislation contains an emergency clause.
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
Office of the Attorney General
Office of State Courts Administrator
Department of Labor and Industrial Relations
Department of Insurance
Office of State Public Defender
Mickey Wilson, CPA
Director
March 31, 2004