Division of the Budget
Landon State Office Building Phone: (785) 296-2436
900 SW Jackson Street, Room 504 adam.c.proffitt@ks.gov
Topeka, KS 66612 http://budget.kansas.gov
Adam Proffitt, Director Laura Kelly, Governor
Division of the Budget
February 20, 2023
The Honorable Jeff Longbine, Chairperson
Senate Committee on Financial Institutions and Insurance
300 SW 10th Avenue, Room 546-S
Topeka, Kansas 66612
Dear Senator Longbine:
SUBJECT: Fiscal Note for SB 199 by Senator Holland
In accordance with KSA 75-3715a, the following fiscal note concerning SB 199 is
respectfully submitted to your committee.
SB 199 would amend the Technology—Enabled Fiduciary Financial Institutions Act. The
bill would list the various reasons the State Banking Board could deny, suspend, revoke, or refuse
to approve a fiduciary financial institution charter. The Commissioner, with the approval of the
Board, would also be authorized to assess and collect a civil money penalty of not less than $5,000
per violation from a fiduciary financial institution for violations of the Act or the Act’s rules and
regulations. The bill would also require the fiduciary financial institution to purchase a surety
bond in an amount equal to 5.0 percent of the institution’s total assets.
The Office of State Bank Commissioner indicates SB 199 would not have a fiscal effect.
The Kansas Judicial Branch indicates SB 199 could increase the number of cases filed in the
district courts because it allows the Commissioner’s final orders to be subject to the Kansas
Judicial Review Act. This provision of the bill would increase time spent by district court judicial
and nonjudicial personnel in processing, researching, and hearing cases. The enactment of the bill
could increase the collection of docket fees that would be deposited into the State General Fund.
The agency indicates it is unable to estimate a fiscal effect. Any fiscal effect associated with SB
199 is not reflected in The FY 2024 Governor’s Budget Report.
Sincerely,
Adam Proffitt
Director of the Budget
cc: Vicki Jacobsen, Judiciary
Brock Roehler, Office of the State Bank Commissioner