COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4528-02
Bill No.: Perfected SCS for SB 1106
Subject: Boards, Commissions, Committees, Councils; Credit Unions
Type: Original
Date: March 12, 2002
FISCAL SUMMARY
FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 2 pages.
ASSUMPTION
Officials from the Department of Revenue - Division of Credit Unions stated that this proposed legislation would have no fiscal impact on their agency.
FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
$0 | $0 | $0 |
FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
$0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposed legislation changes the terms and requirements for members of the Credit Union Commission, requiring that four members of the commission be current credit union representatives and staggering term expiration dates for appointments after March 25, 2005.
The Director of the Division of Credit Unions shall examine certain qualifying credit unions, as determined by the director, only once every eighteen months. Currently, every credit union must be examined annually.
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 Credit Unions
Mickey Wilson, CPA
Acting Director
March 12, 2002