Notice of Introduction for House Bill 1874: Update - 10 Year Analysis Complete

Office of Financial Management

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UPDATE: The 10 year analysis for HB 1874, titled AN ACT Relating to protecting consumers from predatory loans, has been completed. The Office of Financial Management has identified this bill as requiring a ten-year projection of increased cost to the taxpayers or affected fee payers.

Ten-year projection:

Fiscal
Year

   Assessment Fees: Consumer Loan Companies

   Examination Fee: Consumer Loan Companies

   Licensing Fee: Consumer Loan Companies

Total

 

2024

$0

$0

$0

$0

2025

$270,278

$0

$84,977

$355,255

2026

$270,278

$46,920

$0

$317,198

2027

$270,278

$46,920

$0

$317,198

2028

$270,278

$46,920

$0

$317,198

2029

$270,278

$46,920

$0

$317,198

2030

$270,278

$46,920

$0

$317,198

2031

$270,278

$46,920

$0

$317,198

2032

$270,278

$46,920

$0

$317,198

2033

$270,278

$46,920

$0

$317,198

 

Total:

$2,432,502

$375,360

$84,977

$2,892,839


Ten-year projection prepared in consultation with the following agencies:

Dept of Financial Institutions


Bill sponsors and contact information:




Legislative Bill Information Website: http://apps.leg.wa.gov/billinfo/

Initiative 960 Website: http://www.ofm.wa.gov/tax/default.asp