| 122nd MAINE LEGISLATURE | |||||||||
| LD 1990 | LR 3088(02) | ||||||||
| An Act To Create the Insurance Fraud Division within the Bureau of Insurance | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| Committee: Insurance and Financial Services | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Appropriations/Allocations | |||||||||
| Other Special Revenue Funds | $0 | $357,763 | $455,847 | $472,125 | |||||
| Correctional and Judicial Impact Statements | |||||||||
| This bill may increase the number of civil suits filed in the court system. | |||||||||
| The collection of additional filing fees may increase General Fund revenue by minor amounts. | |||||||||
| Fiscal Detail and Notes | |||||||||
| The Bureau of Insurance in the Department of Professional and Financial Regulation will require an additional allocation of approximately $283,000 for fiscal year 2006-07 to establish and administer the new Insurance Fraud Division, This estimate assumes 4 new positions and related costs in the Bureau. Also assumes the Bureau of Insurance will fund an Assistant Attorney General position in the Department of the Attorney General. The Department will require an allocation of $75,000 and the creation of one position for this purpose. The Bureau of Insurance believes it can fund these costs within exiting revenue balances but should this not be the case, the Bureau has assessment authority under existing law to support the costs of the Bureau. | |||||||||