COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:4949H.01I Bill No.:HB 2145 Subject:Insurance - Life; Insurance - General Type:Original Date:January 27, 2022Bill Summary:This proposal modifies provisions relating to the minimum standard for
valuation of insurance policies and contracts.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND AFFECTEDFY 2023FY 2024FY 2025Total Estimated Net
Effect on General
Revenue $0$0$0
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND AFFECTEDFY 2023FY 2024FY 2025Total Estimated Net
Effect on Other State
Funds $0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 4949H.01I
Bill No. HB 2145
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ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND AFFECTEDFY 2023FY 2024FY 2025Total Estimated Net
Effect on All Federal
Funds $0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND AFFECTEDFY 2023FY 2024FY 2025Total Estimated Net
Effect on FTE 000
☐ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any
of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of
the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDSFUND AFFECTEDFY 2023FY 2024FY 2025Local Government$0$0$0 L.R. No. 4949H.01I
Bill No. HB 2145
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FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Commerce and Insurance assume the proposal will have no
fiscal impact on their organization.
Oversight notes that the above mentioned agency has stated the proposal would not have a direct
fiscal impact on their organization. Oversight does not have any information to the contrary.
Therefore, Oversight will reflect a zero impact on the fiscal note.
FISCAL IMPACT – State GovernmentFY 2023
(10 Mo.)
FY 2024FY 2025$0$0$0FISCAL IMPACT – Local GovernmentFY 2023
(10 Mo.)
FY 2024FY 2025$0$0$0
FISCAL IMPACT – Small Business
Certain small business insurance companies may be impacted by this proposal.
FISCAL DESCRIPTION
The proposed legislation appears to have no direct fiscal impact.
This legislation is not federally mandated, would not duplicate any other program and would not
require additional capital improvements or rental space. L.R. No. 4949H.01I
Bill No. HB 2145
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SOURCES OF INFORMATION
Department of Commerce and Insurance
Julie MorffRoss StropeDirectorAssistant DirectorJanuary 27, 2022January 27, 2022