Licensing money transmitters.

03LSO-0292.L2

                                                         

FISCAL NOTE (SF0071)

 

 

 

FY 2004

FY 2005

FY 2006

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase:

 

 

 

EARMARKED REVENUE

9,000

20,000

20,000

 

Source of revenue increase:

 

License application, license renewal and per location fees for Wyoming money transmitters

 

Assumptions:

 

Initial license application, annual renewal, and per location fees will be set by rule.  It is anticipated the initial license fee will be $1,500 with an annual renewal fee of $1,000.  A $50 location fee will be established for each licensee but capped at $7,000.  Initially, there will be six money transmitters companies with approximately 475 sales outlets to be licensed.

 

 

 

 

 

 

 

 

 

 

Prepared by:   Jeffrey C. Vogel, Dept. of Audit Phone:   777-6998

 

 

 

 

 

 

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements.  As introduced, the bill does not modify any state agency budget or current personnel authorizations.  The following state agencies may be affected administratively:

 

Department of Audit