| Last Action | 04/04/24: signed by Governor (Acts Ch. 58) |
|---|---|
| Title | AN ACT relating to fiscal impact statements. |
| Bill Documents |
Acts Chapter 58
Current/Final Introduced |
| Fiscal Impact Statement | Fiscal Note |
| Bill Request Number | 1911 |
| Sponsors | D. Meade , K. Moser |
| Summary of Enacted Version | Amends KRS 6.350 to require that an actuary performing an actuarial analysis clearly describe a new assumption or method and the basis for selecting the assumption or method, including any documentation, studies, written opinions, calculations, or citations, and to require that the actuary certify that the information provided in the analysis is accurate; amends KRS 6.948 to require that the commissioner of the Department of Insurance include in a fiscal impact statement documentation, studies, written opinions, calculations, and citations in support of his or her findings and conclusions and include in the statement an estimate of any potential future cost savings, including an explanation why the bill would or would not provide future cost savings, and to require the commissioner to certify that the information provided in the fiscal impact statement is accurate; and amends KRS 6.949 to require that the commissioner of the Department of Corrections include in a corrections impact statement documentation, studies, written opinions, calculations, and citations in support of the department’s findings and conclusions, an estimate of any potential future cost savings, if not already included in a statement, and a certification by the commissioner that the information provided in the statement is accurate. |
| Summary of Original Version | Amend KRS 6.350 to require an actuary performing an actuarial analysis to clearly note and describe a new assumption or method and the basis for selecting the assumption or method, including any documentation, studies, written opinions, calculations, or citations in support; require the actuary certify that the information provided in the analysis is accurate; amend KRS 6.948 to require the commissioner of the Department of Insurance to include in a fiscal impact statement any documentation, studies, written opinions, calculations, and citations in support of his or her findings and conclusions and include in the statement an estimate of any potential future cost savings, including an explanation why the bill would or would not provide future cost savings; require the commissioner to certify that the information provided in the fiscal impact statement is accurate; amend KRS 6.949 to require the commissioner of the Department of Corrections to include in a corrections impact statement any documentation, studies, written opinions, calculations, and citations in support of the department's findings and conclusions, an estimate of any potential future cost savings, if not already included in a statement, and certification by the commissioner that the information provided in the statement is accurate. |
| Index Headings of Original Version |
Fiscal Note - Health insurance, financial impact statement Crimes and Punishments - Corrections impact statements, additional requirements General Assembly - Actuarial analysis, additional requirements General Assembly - Corrections impact statements, additional requirements General Assembly - Mandated health benefit, fiscal impact statement, additional requirements Insurance, Health - Financial impact statements, private health insurance, additional requirements Jails and Jailers - Corrections impact statements, additional requirements Police, City and County - Corrections impact statements, additional requirements Police, State - Corrections impact statements, additional requirements Retirement and Pensions - Actuarial analysis, additional requirements State Agencies - Actuarial analysis, additional requirements State Agencies - Department of Corrections, impact statements, additional requirements State Agencies - Department of Insurance, financial impact statements, additional requirements |
| Votes | Vote History |
| 02/21/24 |
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| 02/23/24 |
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| 03/05/24 |
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| 03/06/24 |
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| 03/07/24 |
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| 03/08/24 |
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| 03/11/24 |
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| 03/26/24 |
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| 03/27/24 |
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| 03/28/24 |
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| 04/04/24 |
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Last updated: 9/26/2024 1:37 PM (EDT)