This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0898 - Regulates Retail Time & Charge Contracts & Agreements
L.R. NO. 3357-02
BILL NO. Truly Agreed to and Finally Passed SB 898
SUBJECT: Credit Transactions
TYPE: Original
DATE: May 13, 1996
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 1997 FY 1998 FY 1999
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Economic Development - Divisions of Finance
and Credit Unions assume that this legislation would have no fiscal impact on
their agencies.
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 change the cap on time charges associated with retail
time and retail charge contracts from 16.7 cents per $10 per month on the
unpaid balance to any amount agreed to by the parties to the agreement.
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 - Divisions of Finance and Credit Unions