FISCAL NOTE
L.R. No.: 1499H.02I Bill No.: HB 754 Subject: Banks and Financial Institutions; Business and Commerce Type: Original Date: February 4, 2025
Bill Summary: This proposal modifies standards for certain financial organizations.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUND FUND AFFECTED FY 2026 FY 2027 FY 2028
Total Estimated Net Effect on General Revenue $0 $0 $0
ESTIMATED NET EFFECT ON OTHER STATE FUNDS FUND AFFECTED FY 2026 FY 2027 FY 2028
Total Estimated Net Effect on Other State Funds $0 $0 $0 Numbers within parentheses: () indicate costs or losses. L.R. No. 1499H.02I Bill No. HB 754 Page 2 of 4 February 4, 2025
ESTIMATED NET EFFECT ON FEDERAL FUNDS FUND AFFECTED FY 2026 FY 2027 FY 2028
Total Estimated Net Effect on All Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE) FUND AFFECTED FY 2026 FY 2027 FY 2028
Total Estimated Net Effect on FTE 0 0 0
☐ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDS FUND AFFECTED FY 2026 FY 2027 FY 2028
Local Government $0 $0 $0
KC:LR:OD L.R. No. 1499H.02I Bill No. HB 754 Page 3 of 4 February 4, 2025
FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Commerce and Insurance assume the proposal will have no fiscal impact on their organization. Oversight does not have any information to the contrary. Therefore, Oversight will reflect a zero impact in the fiscal note.
Upon further inquiry, the DCI -Division of Finance stated there will be no impact to the division of finance and this will not create or lessen what goes to unclaimed property.
FISCAL IMPACT – State Government FY 2026 FY 2027 FY 2028 (10 Mo.)
$0 $0 $0
FISCAL IMPACT – Local Government FY 2026 FY 2027 FY 2028 (10 Mo.)
$0 $0 $0
FISCAL IMPACT – Small Business
By modifying the articles of agreement applicable to bank or trust companies, certain bank or trust companies could have a fiscal impact as a result of this proposal.
FISCAL DESCRIPTION
The proposed legislation appears to have no direct fiscal impact.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
KC:LR:OD L.R. No. 1499H.02I Bill No. HB 754 Page 4 of 4 February 4, 2025
SOURCES OF INFORMATION
Department of Commerce and Insurance
Julie Morff Jessica Harris Director Assistant Director February 4, 2025 February 4, 2025
KC:LR:OD
Statutes affected: