This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0618 - Increases Bank Holding Company Deposit Cap From 13% to 30%
L.R. NO. 2360-01
BILL NO. SB 618
SUBJECT: Financial Institutions: Banks
TYPE: Original
DATE: December 13, 1995
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
None $0 $0 $0
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
None $0 $0 $0
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1996 FY 1997 FY 1998
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Economic Development - Division of Finance
assume this legislation would have no fiscal impact on their agency.
FISCAL IMPACT - State Government FY 1997 FY 1998 FY 1999
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1997 FY 1998 FY 1999
(10 Mo.)
0 0 0
DESCRIPTION
This legislation would prohibit bank holding companies from acquiring control
of a bank if the total deposits of the acquired bank and all other banks in
the state controlled by the holding company would exceed 30% of total
deposits in the state. The current limit is 13%.
This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.
SOURCES OF INFORMATION
Department of Economic Development - Division of Finance