OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

http://www.cga.ct.gov/ofa

sHB-6800

AN ACT CONCERNING MORTGAGE CORRESPONDENT LENDERS, THE SMALL LOAN ACT, VIRTUAL CURRENCIES AND SECURITY FREEZES ON CONSUMER CREDIT REPORTS.


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 16 $

FY 17 $

Resources of the General Fund

GF - Potential Revenue Gain

less than $5,000

less than $5,000

Municipal Impact: None

Explanation

The bill make changes to the laws governing small loans that could result in additional penalties to the extent that violations occur. Any potential revenue from such violations is expected to be less than $5,000.

The bill makes other clarifying and technical changes that have no fiscal impact.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.