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131st MAINE LEGISLATURE |
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LD 2112 |
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LR 2696(01) |
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An Act to Replace
the Money Transmitters Act |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Sen. Bailey of York |
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Committee: Health Coverage, Insurance and
Financial Services |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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Current biennium cost increase - General Fund
Minor revenue increase - General Fund
Minor revenue increase – Other Special Revenue Funds |
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| Correctional and
Judicial Impact Statements |
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Establishes new
class B, C and D crimes for violations of the Maine Money Transmission
Modernization Act. It is unclear how
many additional individuals will be convicted of a Class B or C crime who
otherwise would not have been. The current average cost of incarcerating one
individual for a single year is $55,203. No funding has been included in the
bill at this time.
This bill may increase the number of cases filed in the court system. The
additional workload associated with the minimal number of new cases does not
require additional funding at this time.
The collection of additional filing fees will increase General Fund Revenue
by minor amounts and the collection of additional fines will increase General
Fund or other dedicated revenue by minor amounts. |
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