LEG REG REVIEW 2014, 20th Issue July 21, 2014

LEG REG REVIEW is a periodic newsletter produced by PHILLIPS ASSOCIATES, a professional lobbying and consultant firm located near the State Capitol.  It contains news on the legislative and regulatory scene in Pennsylvania that may be of interest to the Insurance and Business Communities.  It is a free member benefit for those who are members of the Pennsylvania Association of Health Underwriters (PAHU).  Subscription information may be obtained by contacting PHILLIPS ASSOCIATES at 717/728-1217 FAX 717/232-7005 or e-mail to xenobun@aol.com.  Please email jtrout2792@aol.com supplying both your name and e-mail address if you wish to be removed from or added to this list.   BUDGET FOLLOWUP Now that the new fiscal year has begun, a review of the past FY might be in order.  First, revenue projections were off.  Despite June collections coming in at a greater rate than anticipated, the net result for the FY was almost ½ billion dollars short of projections.  Second, PA’s new budget projects $29.6 billion in revenue representing over one billion more than was collected in FY 2013-14, an increase of 3.5%.  Despite the shortfall in revenues, actual collections were up in FY 2013-14 over the preceding fiscal year, although be it by only $30.9 … Read More