LD 1015 LR 1006(01)
An Act To Require Large Employers To Report Compensation Information
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Patrick of Oxford
Committee: Labor, Commerce, Research and Economic Development
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2015-16 FY 2016-17 Projections  FY 2017-18 Projections  FY 2018-19
Net Cost (Savings)
General Fund $234,293 $224,990 $233,150 $241,636
General Fund $234,293 $224,990 $233,150 $241,636
Other Special Revenue Funds $500 $500 $500 $500
Fiscal Detail and Notes
The Bureau of Labor Standards within the Department of Labor has indicated that it will need General Fund appropriations of $234,293 in fiscal year 2015-16 and $224,990 in fiscal year 2016-17 for one Program Manager position, one Labor and Safety Inspector position and one Office Associate II position and related All Other costs to implement and administer a program that requires employers who employ over 100 workers in the State to report annually to the bureau the total compensation for the previous year of the employer's chief executive and the total compensation of the full-time employee with the lowest rate of pay.  This preliminary fiscal impact statement assumes an effective date of October 1, 2015.
The Bureau of Labor Standards within the Department of Labor will also require base Other Special Revenue Funds allocations of $500 per year beginning in fiscal year 2015-16 to establish the Employer Compensation Report Fund to accept outside funds in the event that contributions are made to support the costs of preparing the required report.