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130th MAINE LEGISLATURE |
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LD 1645 |
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LR 926(03) |
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An Act To
Establish Protections for Private Student Loan Borrowers and a Registry of
Lenders |
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Fiscal Note for
Bill as Engrossed with:
C "A" (S-303) |
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Committee: Health Coverage, Insurance and
Financial Services |
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| Fiscal Note |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Appropriations/Allocations |
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Other Special Revenue Funds |
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$90,101 |
$118,250 |
$125,169 |
$132,500 |
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| Revenue |
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Other Special Revenue Funds |
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$90,000 |
$90,000 |
$90,000 |
$90,000 |
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| Transfers |
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Other Special Revenue Funds |
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$0 |
$0 |
$0 |
$0 |
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| Correctional
and Judicial Impact Statements |
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This bill may
increase the number of civil suits filed in the court system.
The additional workload associated with the minimal number of new cases
filed in the court system does not require additional funding at this time.
The collection of additional filing fees may increase General Fund and
other dedicated revenue by minor amounts. |
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| Fiscal Detail
and Notes |
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The bill includes
Other Special Revenue Funds allocations to the Department of Professional and
Financial Regulation (DPFR) of $90,101 in fiscal year 2021-22 and $118,250 in
fiscal year 2022-23. This total includes the establishment of one Principal
Consumer Credit Examiner position to manage the regulation of private
education lending and All Other costs associated with the position. The
allocation is funded by an expected increase in revenues to DPFR of $90,000
per fiscal year associated with the registration fee for the private student
loan lender registry. Allocation totals above the expected revenue amount can
be accommodated. |
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