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August 3, 2023 SB 23-153
Legislative Council Staff
Nonpartisan Services for Colorado’s Legislature
Final Fiscal Note
Drafting Number:
Prime Sponsors:
LLS 23-0324
Sen. Rodriguez; Rich
Rep. Duran; Pugliese
Date:
Bill Status:
Fiscal Analyst:
August 3, 2023
Signed into Law
Josh Abram | 303-866-3561
josh.abram@coleg.gov
Bill Topic: SUNSET REVISED UNIFORM LAW ON NOTARIAL ACTS
Summary of
Fiscal Impact:
☒ State Revenue
☒ State Expenditure
☐ State Transfer
☒ TABOR Refund
☐ Local Government
☐ Statutory Public Entity
Sunset Bill. This bill continues the regulation of notary publics by the Secretary of
State, which is scheduled to repeal on September 1, 2023. State fiscal impacts include
both new revenue and expenditures from changes to the program under the bill, as well
as the continuation of the program's current revenue and expenditures. The program
is continued through September 1, 2032.
Appropriation
Summary:
For FY 2023-24, the enacted bill includes an appropriation of $96,568 to the Secretary
of State.
Fiscal Note
Status:
The fiscal note reflects the enacted bill.
Table 1
State Fiscal Impacts Under SB 23-153
1
New Impacts
Budget Year
FY 2023-24
Out Year
FY 2024-25
Revenue Cash Funds up to $107,925 up to $42,339
Expenditures Cash Funds $96,568 $34,759
Centrally Appropriated $11,357 $7,745
Total Expenditures $107,925 $42,339
Total FTE 0.7 FTE 0.5 FTE
Other Budget Impacts TABOR Refund up to $107,925 up to $42,339
Continuing Impacts
Revenue Cash Funds - $72,000
Expenditures Cash Funds - $72,000
Continuing FTE - 2.0 FTE
Other Budget Impacts
TABOR Refund $72,000
1
Table 1 shows the new impacts resulting from changes to the program under the bill and the continuing impacts
from extending the program beyond its current repeal date. The continuing program impacts will end if the bill is
not passed and the program is allowed to repeal. Page 2
August 3, 2023 SB 23-153
Summary of Legislation
The bill implements the recommendations of the Department of Regulatory Affairs’ (DORA) sunset
review of the Revised Uniform Law on Notarial Acts, and continues regulation of notary publics by
the Secretary of State (SOS) until September 1, 2032.
Under current law, notary public fees are fixed at not more than $5 per document and up to $10 for a
notary’s electronic signature. This bill repeals the statutory fees and requires that the SOS adopt rules
that establish caps for notary fees. The SOS must also adopt rules for the minimum requirements for
the use of interpreters and translators in the performance of notarial acts. The bill sets conditions for
the use of interpreters in execution notarial acts. Finally, the bill repeals obsolete language requiring
that a notary include the expiration date of his or her office on certificates of notarial acts.
Continuing Program Impacts
Based on the DORA’s 2022 Sunset Review, the SOS is expected to have revenue and expenditures of
about $72,000 and 2.0 FTE to regulate notary publics. If this bill is enacted, current revenue and
expenditures will continue for the program starting in FY 2024-25. This continuing revenue is subject
to the state TABOR limits. If this bill is not enacted, the program will end on September 1, 2024,
followed by a wind-down period, and state revenue and expenditures will decrease starting in
FY 2024-25 by the amounts shown in Table 1. The changes to the program that drive additional
revenue and costs are discussed in the State Revenue and State Expenditures sections below.
State Revenue
The bill may increase business filing fee revenue by up to $107,925 in FY 2023-24 and up to $42,339 in
FY 2024-25, paid to the Department of State Cash Fund.
Fee impact on businesses and professions. Colorado law requires legislative service agency
review of measures which create or increase any fee collected by a state agency. To cover the costs
described in the State Expenditures section below, notary registration and other business filing
fees may need to be raised to cover all or some of the costs of this bill. The fees affected and the
actual amount of fee charges will be set administratively by the DOS based on cash fund balance,
total program costs, and the estimated number of professional activities subject to fees. This
revenue is subject to TABOR.
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August 3, 2023 SB 23-153
State Expenditures
The bill increases state expenditures in the SOS by $107,925 in FY 2023-24, and by $42,339 in
FY 2024-25, paid from the Department of State Cash Fund. New expenditures are displayed in Table 3
and described below.
Table 3
Expenditures Under SB 23-153
FY 2023-24 FY 2024-25
Secretary of State
Personal Services $38,953 $23,919
Operating Expenses $945 $675
Capital Outlay Costs $6,670 -
Economic Consultant $50,000 $10,000
Centrally Appropriated Costs
1
$11,357 $7,745
Total Cost $107,925 $42,339
Total FTE 0.7 FTE 0.5 FTE
1
Centrally appropriated costs are not included in the bill's appropriation.
Personal services. The Business and Licensing Division in the SOS will have increased costs for
additional management, technical and administrative staff totaling 0.7 FTE in FY 2023-24, which
reduces to 0.5 FTE in FY 2024-25 and subsequent years. Staff are needed to adopt rules for notary fees
and the use of translators and interpreters, to update website and informational documents, and for
customer support.
Economic consultant. When adopting rules to set notary public fees, the SOS will work with an
outside economist or consultant to conduct market research, and make recommendations on
appropriate fee amounts and a schedule for revising rules and fees. This work will be most significant
in FY 2023-24 and less involved in subsequent years.
Centrally appropriated costs. Pursuant to a Joint Budget Committee policy, certain costs associated
with this bill are addressed through the annual budget process and centrally appropriated in the Long
Bill or supplemental appropriations bills, rather than in this bill. These costs, which include employee
insurance and supplemental employee retirement payments, are shown in Table 3.
TABOR refunds. The bill is expected to increase the amount of state revenue required to be refunded
to taxpayers by the amounts shown in the State Revenue section above. This estimate assumes the
December 2022 LCS revenue forecast. A forecast of state revenue subject to TABOR is not available
beyond FY 2024-25. Because TABOR refunds are paid from the General Fund, increased cash fund
revenue will reduce the amount of General Fund available to spend or save.
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August 3, 2023 SB 23-153
Effective Date
The bill was signed into law by the Governor and took effect on May 17, 2023.
State Appropriations
For FY 2023-24, the enacted bill includes an appropriation of $96,568 to the Secretary of State from the
Department of State Cash Fund.
State and Local Government Contacts
Law Secretary of State
The revenue and expenditure impacts in this fiscal note represent changes from current law under the bill for each
fiscal year. For additional information about fiscal notes, please visit: leg.colorado.gov/fiscalnotes.