TO: | Honorable Allan Ritter, Chair, House Committee on Pensions & Investments |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB1840 by Solomons (Relating to a fee established and set by the State Securities Board.), Committee Report 1st House, Substituted |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2004 | $4,042,076 |
2005 | $4,042,076 |
2006 | $4,042,076 |
2007 | $4,042,076 |
2008 | $4,042,076 |
Fiscal Year | Probable Revenue Gain/(Loss) fromGENERAL REVENUE FUND 1 |
---|---|
2004 | $4,042,076 |
2005 | $4,042,076 |
2006 | $4,042,076 |
2007 | $4,042,076 |
2008 | $4,042,076 |
The bill would authorize the State Securities Board to establish and set certain fees in amounts that are reasonable and necessary. The fees would be set at a level sufficient to cover the cost of administering and enforcing the Securities Act in excess of the amount generated by the fees, as they existed on September 1, 2002.
The act takes effect immediately if it receives a vote of two thirds of each house of the Legislature, otherwise the bill would take effect September 1, 2003.
Source Agencies: | 304 Comptroller of Public Accounts, 312 Securities Board
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LBB Staff: | JK, JO, RR, RT, RB
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