LEGISLATIVE FISCAL OFFICE
Fiscal Note
Fiscal Note On: SB 75 SLS 202ES 105
Bill Text Version: ENGROSSED
Opp. Chamb. Action:
Proposed Amd.:
Sub. Bill For.:
Date: October 15, 2020 9:37 AM Author: MILLIGAN
Dept./Agy.: Attorney General/Secretary of State
Subject: Transactions by the People’s Republic of China Analyst: Rebecca Robinson
COMMERCIAL REGULATIONS EG NO IMPACT GF EX See Note Page 1 of 1
Provides relative to certain transactions involving investments by certain Chinese enterprises. (gov sig) (Item #28)
Proposed legislation provides that beginning on 1/1/21, an enterprise that participates in an incentive or rebate program
with the Department of Economic Development (LED) shall submit to the Attorney General (AG) written notice that shall
contain: 1) the terms of purchase or lease; 2) the identity and chain of ownership of the buyer and seller and the lessor and
lessee; 3) the buyer’s purpose and reason for making the investment; 4) the sources of all funds used to make the
investment; 5) whether the buyer or any affiliate of the buyer will acquire intellectual property as a result of the transaction;
6) whether the buyer or lessor has received subsidies from the People’s Republic of China (PRC). If the enterprise fails to
provide notice within 60 days after the incentive or rebate was received, the existing contract with LED shall be void and the
AG shall bring proceedings to recover all funds the enterprise received from LED.
Effective upon Governor’s signature.
EXPENDITURES 2020-21 2021-22 2022-23 2023-24 2024-25 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
REVENUES 2020-21 2021-22 2022-23 2023-24 2024-25 5 -YEAR TOTAL
State Gen. Fd. $0 $0 $0 $0 $0 $0
Agy. Self-Gen. $0 $0 $0 $0 $0 $0
Ded./Other $0 $0 $0 $0 $0 $0
Federal Funds $0 $0 $0 $0 $0 $0
Local Funds $0 $0 $0 $0 $0 $0
Annual Total $0 $0 $0 $0 $0 $0
EXPENDITURE EXPLANATION
The AG’s office has indicated it does not anticipate any workload increases associated with the reviews and potential
recovery efforts as outlined in the proposed legislation.
The LED is reviewing records to determine whether it can identify the potential number of entities which could be impacted
by the proposed legislation.
REVENUE EXPLANATION
There is no anticipated direct material effect on governmental revenues as a result of this measure.
Senate Dual Referral Rules House
13.5.1 >= $100,000 Annual Fiscal Cost {S & H} 6.8(F)(1) >= $100,000 SGF Fiscal Cost {H & S}
Alan M. Boxberger
13.5.2 >= $500,000 Annual Tax or Fee 6.8(G) >= $500,000 Tax or Fee Increase
Change {S & H} or a Net Fee Decrease {S} Staff Director