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| SPONSOR: | Leavell | DATE TYPED: | 02/01/00 | HB | |||
| SHORT TITLE: | Information & Communication Equipment | SB | 191 | ||||
| For PRC | ANALYST: | Valenzuela | |||||
| Recurring
or Non-Rec |
Fund
Affected | ||||
| FY00 | FY01 | FY00 | FY01 | ||
| $ 400.0 | Non-recurring | Bond Proceeds | |||
(Parenthesis ( ) Indicate Expenditure Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
LFC Files
Public Regulation Commission (PRC)
SUMMARY
Synopsis of Bill
Senate Bill 191 appropriates $400.0 to the Insurance Division of the Public Regulation Commission to purchase information and communication equipment. The bill contains a clause that states the unexpended balances shall revert to the general fund.
Significant Issues
In 1996, the Legislature passed Senate Bill 373, which gave the insurance division the authority to collect a $3.00 fee from its licensees. The revenue was earmarked to pay the principal, interest and any other expenses for issuance of $1.0 million in revenue bonds. The proceeds from the revenue were designated to be spent for computer hardware and software for the insurance division to automate its processes. To date, the insurance division has only expended approximately $600.0, and thus, $400.0 remains available.
FISCAL IMPLICATIONS
SB191 appropriates $400.0 from revenue bond proceeds. Aside from the appropriation in the bill, enactment of Senate Bill 191 would not have an additional fiscal impact.
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