This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0683 - Increases Late Payment Fees on Installment Loans
L.R. NO.  2422-03
BILL NO.  Truly Agreed to and Finally Passed HCS for SB 683
SUBJECT:  Financial Institutions:  Fees
TYPE:     Original
DATE:     May 8, 1996



                              FISCAL SUMMARY
                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None                            $0                  $0                $0

Total Estimated
Net Effect on All
State Funds                     $0                  $0                $0


                   ESTIMATED NET EFFECT ON FEDERAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None                            $0                  $0                $0

Total Estimated
Net Effect on All
Federal Funds                   $0                  $0                $0


                    ESTIMATED NET EFFECT ON LOCAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

Local Government                $0                  $0                $0


                              FISCAL ANALYSIS

ASSUMPTION

Officials of the Department of Economic Development - Divisions of Finance
and Credit Unions indicate that this legislation would have no fiscal impact
on their agencies.

FISCAL IMPACT - State Government FY 1997   FY 1998   FY 1999
                                (10 Mo.)

                                       0         0         0

FISCAL IMPACT - Local Government FY 1997   FY 1998   FY 1999
                                (10 Mo.)

                                       0         0         0

DESCRIPTION

This legislation would raise the maximum late fee chargeable on certain
installment loans to $25 and would raise the minimum late charge to $10.

The legislation would provide for the conversion of savings and loan
associations to state-chartered banks and for the merger or consolidation of
savings and loan associations with state-chartered banks.

This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.


SOURCES OF INFORMATION

Department of Economic Development - Divisions of Finance and Credit Unions