BILL ANALYSIS                                                                                                                                                                                                    



          SENATE COMMITTEE ON APPROPRIATIONS
                             Senator Ricardo Lara, Chair
                            2015 - 2016  Regular  Session

          SB 984 (Hueso) - Pilot Program for Increased Access to  
          Responsible Small Dollar Loans:  extension
          
           ----------------------------------------------------------------- 
          |                                                                 |
          |                                                                 |
          |                                                                 |
           ----------------------------------------------------------------- 
          |--------------------------------+--------------------------------|
          |                                |                                |
          |Version: February 10, 2016      |Policy Vote: B. & F.I. 6 - 1,   |
          |                                |          JUD. 7 - 0            |
          |                                |                                |
          |--------------------------------+--------------------------------|
          |                                |                                |
          |Urgency: No                     |Mandate: Yes                    |
          |                                |                                |
          |--------------------------------+--------------------------------|
          |                                |                                |
          |Hearing Date: May 27, 2016      |Consultant: Jolie Onodera       |
          |                                |                                |
           ----------------------------------------------------------------- 
          

          Bill  
          Summary:  SB 984 would repeal the January 1, 2018, sunset date  
          for the Pilot Program for Increased Access to Responsible Small  
          Dollar Loans, thereby making its provisions operative  
          indefinitely, as the Program for Increased Access to Responsible  
          Small Dollar Loans (Program).


          *********** ANALYSIS ADDENDUM - SUSPENSE FILE ***********
             The following information is revised to reflect amendments 
                      adopted by the committee on May 27, 2016




          Fiscal  
          Impact:  Annual costs potentially in excess of $150,000 (Special  
          Fund*) through 2022 to the Department of Business Oversight  
          (DBO) to continue administrative and enforcement activities over  
          the Program, to be recovered through the authority to charge  
          fees. To the extent the removal of the sunset date fosters  







          SB 984 (Hueso)                                         Page 1 of  
          ?
          
          
          growth and greater participation in the Program, the future  
          costs of the Program could potentially increase.

          *State Corporations Fund


          Committee  
          Amendments:  Strike the repeal of the sunset date and instead  
          extend the sunset on the Program for five years to January 1,  
          2023, and reinsert the requirement on DBO to include a  
          recommendation in its report on whether the Program should  
          continue after the sunset date.


                                      -- END --