Fiscal Note
SB0124 - Indemnification for Design Professional Services
State Impact:
Enactment of this bill will require the Department of Transportation (UDOT) and the Division of Facilities, Construction, and Management (DFCM) to purchase insurance from the market at 75 cents per $1,000 of projects under contract to cover liabilities resulting from errors in design. Currently UDOT has $1.7 billion of projects under contract and DFCM has $820 million.
| Funding Source | FY 2009 Approp. | FY 2010 Approp. | FY 2011 Approp. | FY 2009 Revenue | FY 2010 Revenue | FY 2011 Revenue |
| General Fund | $0 | $1,890,000 | $1,890,000 | $0 | $0 | $0 |
| Total | $0 | $1,890,000 | $1,890,000 | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for local governments, though certain individuals and businesses may benefit from reduced insurance costs.
| 1/30/2009, 1:16:41 PM, Lead Analyst: Amon, R. | Office of the Legislative Fiscal Analyst |