OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-7141

AN ACT CONCERNING SECURED AND UNSECURED LENDING.


OFA Fiscal Note

State Impact:

Agency Affected

Fund-Effect

FY 18 $

FY 19 $

Banking Dept.

GF - Potential Revenue Gain

See Below

See Below

Note: GF=General Fund

Municipal Impact: None

Explanation

The bill makes various statutory changes to increase uniformity with regard to all Department of Banking license types. To the extent that this results in additional penalties from licensees engaging in fraudulent and deceptive practices, the bill may result in a revenue gain to the General Fund.

The Out Years

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