| 122nd MAINE LEGISLATURE | |||||||||
| LD 788 | LR 1491(01) | ||||||||
| An Act To Establish Consumer Protections and Regulations for Deferred Deposit Loans | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Duplessie of Westbrook | |||||||||
| Committee: Business, Research and Economic Development | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Appropriations/Allocations | |||||||||
| Other Special Revenue Funds | $120,784 | $106,206 | $113,876 | $122,101 | |||||
| Revenue | |||||||||
| Other Special Revenue Funds | $21,750 | $14,450 | $21,675 | $28,900 | |||||
| Correctional and Judicial Impact Statements | |||||||||
| This bill may increase the number of civil suits filed in the court system | |||||||||
| The collection of additional filing fees may increase General Fund revenue by minor amounts | |||||||||
| Fiscal Detail and Notes | |||||||||
| The additional costs associated with the Department of the Attorney General bringing civil action against certain violators can be absorbed by the Department of the Attorney General utilizing existing budgeted resources. The Office of Consumer Credit Regulation in the Department of Professional and Financial Regulation would incur additional licensing and examination costs estimated to be partially offset by new licensing and examination fees. Estimates are based on the assumption of 5 new companies with 95 branch offices in year one, and 2 more companies with 48 branch offices in year two. | |||||||||