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129th MAINE LEGISLATURE |
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LD 1767 |
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LR 2366(02) |
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An Act To
Increase the Efficiency of Certain Consumer Credit Protection Laws |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Health Coverage, Insurance and
Financial Services |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
| Revenue |
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Other Special Revenue Funds |
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$0 |
($49,000) |
($84,000) |
($84,000) |
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| Fiscal Detail
and Notes |
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This bill
requires that all student loan debt collection cases be filed as civil
actions. These cases are currently filed as small claims cases, which include
a mediation fee collected by the judicial department. Moving these cases to
civil filings would result in a loss of this mediation fee, which is
estimated to total about $84,000 annually. Assuming this bill is effective in
December, it is estimated revenue will fall by $49,000 in fiscal year
2020-21. |
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Any additional
costs or revenues accruing to the Department of Professional and Financial
Regulation as a result of this bill are expected to be minor. |
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