Fiscal Note
HB0265 - Office of Recovery Services - Electronic Funds Transfer
State Impact:
Passage of this Legislation will result in a savings of $90,000 with $30,600 in General Funds and $59,400 in federal matching funds for the Office of Recovery Services for the distrubtion of child support payments by electronic funds transfer.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| General Fund | $0 | ($30,600) | ($30,600) | $0 | $0 | $0 |
| Federal Funds | $0 | ($59,400) | ($59,400) | $0 | $0 | $0 |
| Total | $0 | ($90,000) | ($90,000) | $0 | $0 | $0 |
Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for businesses or local governments. Individuals that are custodial parents will benefit by receiving their funds directly in their accounts which will reduce lost or stolen checks. Individuals without checking accounts will receive a "stored value" debit card.
| 1/17/2008, 11:39:55 AM, Lead Analyst: Headden, D. | Office of the Legislative Fiscal Analyst |