LD 389 LR 1175(01)
An Act To Promote Access to Financial Institutions by Entities That Are Authorized under State Law
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Hamper of Oxford
Committee: Insurance and Financial Services
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2017-18 FY 2018-19 Projections  FY 2019-20 Projections  FY 2020-21
Other Special Revenue Funds $0 $146,149 $150,044 $157,869
Other Special Revenue Funds $0 $22,000 $22,000 $22,000
Fiscal Detail and Notes
The Department of Professional and Financial Regulation will require an ongoing Other Special Revenue Funds allocation of $146,149 beginning in fiscal year 2018-19 to hire and outfit one additional Senior Bank Examiner and one part-time Consumer Outreach Specialist to manage the increased workload required from changes in this bill.

The bill will also generate $22,000 in Other Special Revenue Funds revenue to the Department of Professional and Financial Regulation. $21,000 of this is from examination fees for an anticipated increase in examiners and $1,000 is from an estimated increase in assessment revenue from institutions based on assets.