Approved: 02/22/24
LD 2112 LR 2696(02)
Correctional and Judicial Impact Statements
Establishes new class B, C and D crimes for violations of the Maine Money Transmission Modernization Act. It is
unclear how many additional individuals will be convicted of a Class B or C crime who otherwise would not have
been. The current average cost of incarcerating one individual for a single year is $55,203. No funding has been
included in the bill at this time.
This bill may increase the number of cases filed in the court system. The additional workload associated with the
minimal number of new cases does not require additional funding at this time.
The collection of additional filing fees will increase General Fund Revenue by minor amounts and the collection of
additional fines will increase General Fund or other dedicated revenue by minor amounts.
Current biennium cost increase - General Fund
Minor revenue increase - General Fund
Minor revenue increase – Other Special Revenue Funds
Fiscal Note
131st MAINE LEGISLATURE
An Act to Replace the Money Transmitters Act
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Health Coverage, Insurance and Financial Services
Fiscal Note Required: Yes
LR2696(02) - Fiscal Note - Page 1 of 1