LD 1015 LR 1006(02)
An Act To Require Large Employers To Report Compensation Information
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Labor, Commerce, Research and Economic Development
Fiscal Note Required: Yes
Fiscal Note
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
This bill includes General Fund appropriations of $234,293 in fiscal year 2015-16 and $224,990 in fiscal year 2016-17 to the Bureau of Labor Standards within the Department of Labor 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 highest paid executive and the total compensation of the full-time employee with the lowest rate of pay.  This fiscal note assumes an effective date of October 1, 2015.
This bill also includes Other Special Revenue Funds base allocations of $500 per year beginning in fiscal year 2015-16 to the Bureau of Labor Standards 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.