Fiscal Note - State of Utah - 2014 General Session

SB0124 - Financial Institution and Services Amendments

State Government (UCA 36-12-13(2)(b)):
Beginning FY 2015, enactment of this bill could decrease fee revenue to the General Fund Restricted - Financial Institutions Account by about $91,200 per year.

State Budget Detail TableFY 2014FY 2015FY 2016
Restricted Funds$0($91,200)($91,200)
   Total Revenue$0($91,200)($91,200)
Net Impact, All Funds (Rev.-Exp.)$0($91,200)($91,200)
   Net Impact, General/Education Funds (Rev.-Exp.)$0$0$0

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill restructures the fee paid by 70C lenders to the Department of Financial Institutions. The smaller 70C lenders could have their fee increase from $25 to $100 annually. The Larger 70C lenders could have their fee decrease by as much as $17,000 to $100. The bill could impact about 158 lenders per year.

Performance Note Required? (Joint Rule 4-2-404): No

1/22/2014, 11:15:13 AM, Lead Analyst: King, Z./Attny: POOffice of the Legislative Fiscal Analyst