| 122nd MAINE LEGISLATURE | |||||||||
| LD 1303 | LR 0679(01) | ||||||||
| An Act to Register Nonbank Loan Officers | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Glynn of South Portland | |||||||||
| Committee: Insurance and Financial Services | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Appropriations/Allocations | |||||||||
| Other Special Revenue Funds | $43,500 | $39,017 | $36,609 | $37,483 | |||||
| Revenue | |||||||||
| Other Special Revenue Funds | $43,680 | $39,200 | $38,340 | $40,909 | |||||
| Fiscal Detail and Notes | |||||||||
| Assumes the Office of Consumer Credit Regulation in the Department of Professional and Financial Regulation will require an additional Other Special Revenue Funds allocation for a half-time Senior Consumer Credit Examiner and associated costs, to register and track loan officers. Estimated revenue assumes 397 supervised lender companies and 225 loan broker companies, half of which will be licensed each year. It is further assumed that 50% of the companies have an average of 4 loan officers, therefore paying a fee of $80 ($20 per) and 50% are assumed to have 10 loan officers, therefore paying the maximum fee of $200. | |||||||||