121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1698
		An Act To Join the Interstate Insurance Product Regulation Compact
		LR 2485(01)
		Fiscal Note for Original Bill
		Sponsor: Sen. LaFountain of York
		Committee: Insurance and Financial Services
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$0	$2,520	$2,520	$2,520
Appropriations/Allocations
	General Fund		$0	$2,520	$2,520	$2,520
Fiscal Detail and Notes
	Establishing a management committee and a legislative committee to monitor the operations of the Interstate Insurance Product Regulation Commission will require General Fund appropriations to the Legislature of approximately $2,520 annually beginning in fiscal year 2004-05.  This estimate is based on the cost of per diem and expenses for one legislative member for one meeting estimated to be $105 and assumes 6 legislative members and four meetings beginning in fiscal year 2004-05.  This estimate could change once more information is forthcoming regarding when the compact becomes effective, how many legislative members there will be and how many times they will meet. Any additional cost to the Department of Professional and Financial Regulation can be absorbed by the department within existing resources.