This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0852 - Various changes to banking and credit practices
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 3601-05
BILL NO. HCS for SS for SCS for SB 852 and 913
SUBJECT: Banking
TYPE: Original
DATE: May 5, 1998
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Economic Development - Divisions of Finance assume the proposal would have no fiscal impact on their agency.
In response to a similar proposal, officials of the Department of Economic Development - Division of Credit Unions and the Department of Natural Resources assumed the proposal would have no fiscal impact on their agencies.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| FISCAL IMPACT - Local Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| FISCAL IMPACT - Small Business | |||
Financial institutions classified as small businesses could be fiscally impacted if they elect to collect credit card fees as allowed by the proposal.
DESCRIPTION
The proposal includes various provisions relating to banking. It includes provisions governing the confidentiality of information obtained during bank examinations by the division of finance within the department of economic development, allowing nonstockholders to be directors, and allowing for credit card fees. It would provide for creditors of petroleum storage tank owners or possessors of security interests on the owners' property to become successors in interest on both above ground and underground storage tanks.
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
Department of Natural Resources
Jeanne Jarrett, CPA
Director
May 5, 1998