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Fiscal NoteS.B. 227 2022 General Session Consumer Privacy Act by Cullimore, K |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/EF/USF (rev.-exp.) | $(114,300) | $114,300 | $0 |
| Revenues | FY 2022 | FY 2023 | FY 2024 |
| General Fund | $0 | $(114,300) | $(114,300) |
| General Fund, One-time | $0 | $114,300 | $(57,200) |
| Commerce Service Fund | $0 | $114,300 | $114,300 |
| Commerce Service Fund, One-time | $0 | $(114,300) | $57,200 |
| New Account Created By Bill (FN Only) | $0 | $0 | $85,000 |
| Total Revenues | $0 | $0 | $85,000 |
Enactment of this legislation could decrease revenue to the General Fund by $57,100 in FY 2024 and $114,300 ongoing beginning in FY 2025 due to spending from the Commerce Service Account. Enactment could also increase revenue to the newly created Consumer Privacy Account by $85,000 in FY 2024 and $170,000 in FY 2025 from Attorney General enforcement collections.
| Expenditures | FY 2022 | FY 2023 | FY 2024 |
| Commerce Service Fund | $0 | $114,300 | $114,300 |
| Commerce Service Fund, One-time | $0 | $(114,300) | $(57,100) |
| New Account Created By Bill (FN Only) | $0 | $0 | $85,000 |
| Total Expenditures | $0 | $0 | $142,200 |
Enactment of this legislation could cost the Division of Consumer Protection $57,200 in FY 2024 and $114,300 ongoing beginning in FY 2025 from the Commerce Service Account to review complaints and oversee the program. Spending from the Commerce Service Account impacts year-end transfers to the General Fund. Enactment of this legislation could also cost the Attorney General $85,000 in FY 2024 and $170,000 ongoing beginning in FY 2025 from the newly created Consumer Privacy Account for investigation, administration, and education costs.
| FY 2022 | FY 2023 | FY 2024 | |
| Net All Funds (rev-exp) | $0 | $0 | $(57,200) |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
To the extent that businesses and individuals violate provisions of this legislation, they could pay actual damages to the consumer and a fine of up to $1,000 per consumer affected by the violation.