129th MAINE LEGISLATURE
		LD 1767		LR 2366(03)
	An Act To Increase the Efficiency of Certain Consumer Credit Protection Laws
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Health Coverage, Insurance and Financial Services
	Fiscal Note Required: Yes
Fiscal Note
			FY 2019-20	FY 2020-21	Projections  FY 2021-22	Projections  FY 2022-23
Revenue
	Other Special Revenue Funds		$0	($49,000)	($84,000)	($84,000)
Fiscal Detail and Notes
	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.
	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.