Fiscal Note - SB 0065 - Refunds Resulting From the Prepaying of Certain Loans Must Be Calculated Using the Actuarial Method
L.R. NO. 0317-02
BILL NO. SB 65
SUBJECT: Financial Institutions
TYPE: Original
DATE: December 10, 1996
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Economic Development - Division of Finance and
the Department of Insurance assume that this proposal would have no fiscal
impact on their agencies.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
This proposal could affect small businesses to the extent that refunds paid
or received as a result of prepayments of certain financing agreements either
increase or decrease.
DESCRIPTION
The proposal would require that refunds owed as a result of the prepayment of
certain financing agreements be calculated using the actuarial method.
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 - Division of Finance
Department of Insurance
This Fiscal Note is not an official copy and should not be quoted or cited.