Revision: Jan. 20, 2012, midnight
SB 188-FN – AS AMENDED BY THE SENATE
01/18/12 0201s
2011 SESSION
09/01
SENATE BILL 188-FN
AN ACT establishing a committee to study establishing an office of the inspector general.
SPONSORS: Sen. Bragdon, Dist 11; Sen. White, Dist 9
COMMITTEE: Executive Departments and Administration
This bill establishes a committee to study and, upon majority agreement, develop a plan for establishing an office of the inspector general.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
01/18/12 0201s
11-1041
09/01
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Eleven
AN ACT establishing a committee to study establishing an office of the inspector general.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Committee Established. There is established a committee to study and develop a plan for establishing an office of the inspector general.
2 Membership and Compensation.
I. The members of the committee shall be as follows:
(a) Four members of the senate, 2 of whom shall be members of the judiciary committee and 2 of whom shall be members of the executive departments and administration committee, appointed by the president of the senate.
(b) Four members of the house of representatives, 2 of whom shall be members of the judiciary committee and 2 of whom shall be members of the executive departments and administration committee, appointed by the speaker of the house of representatives.
II. Members of the committee shall receive mileage at the legislative rate when attending to the duties of the committee.
3 Duties. The committee shall study establishing an office of the inspector general. Upon majority agreement, the committee shall develop a plan which establishes an office of the inspector general.
4 Chairperson; Quorum. The members of the study committee shall elect a chairperson from among the members. The first meeting of the committee shall be called by the first-named senate member. The first meeting of the committee shall be held within 45 days of the effective date of this section.
5 Report. The committee shall report its findings and any recommendations for proposed legislation to the president of the senate, the speaker of the house of representatives, the senate clerk, the house clerk, the governor, and the state library on or before November 1, 2012.
6 Effective Date. This act shall take effect upon its passage.
LBAO
11-1041
Revised 03/02/11
SB 188 FISCAL NOTE
AN ACT establishing a committee to study establishing an office of the inspector general.
FISCAL IMPACT:
The Department of Justice states this bill will increase state general fund expenditures by an indeterminable amount in FY 2011 and each year thereafter. The New Hampshire Banking Department states this bill will increase state restricted revenue and expenditures by $1,055,060 in FY 2012 and each year thereafter. There will be no fiscal impact on state general fund revenues, or county and local revenues or expenditures.
METHODOLOGY:
The Department of Justice states this bill gives coextensive jurisdiction over unfair or deceptive trade practices involving securities transactions to the Department of Justice, New Hampshire Banking Department, and Bureau of Securities Regulations and provides the Department overall authority and general supervision over state regulations of securities by the Banking Department and the Bureau of Securities Regulations. The Department states this bill will increase the Department’s enforcement responsibilities. Because the Department cannot estimate whether the necessary institutional communication and cooperation between the three departments and future investigations can be conducted utilizing existing resources, the fiscal impact of these responsibilities cannot be determined at this time. Additionally, the Department states this bill requires the Consumer Protection Bureau to create and maintain a central database for consumer complaints alleging unfair and deceptive trade practices increasing state general fund expenditures by an indeterminable amount in FY 2011 and each year thereafter.
The New Hampshire Banking Department states this bill requires the Banking Commissioner to examine the financial condition of an institution’s entire operations at the time of the entities scheduled banking examination. The Department assumes there will be no new licensees in FY 2012 through FY 2015. The Department estimates this bill will require an additional 2,229 exam days per 18 month examination cycle, thereby increasing state restricted expenditures by $1,055,060 in FY 2012 and each year thereafter (2,229 days * $710 cost per exam day = $1,582,590 per 18 months * 2/3 = $1,055,060 per 12 months). The Department states because it is self-funded through fees, fines, and assessments, increased expenditures will result in increased state restricted revenues of $1,055,060 in FY 2012 and each year thereafter. Finally, the Department states because it already shares information with other state agencies and works with the Department of Justice and Bureau of Securities Regulation on matters of securities regulations there will be no fiscal impact resulting from these sections of the proposed bill.
The Bureau of Securities Regulation states this bill requires the Bureau to report to the Department of Justice and explains the basis upon which the Bureau may initiate an investigation. The Bureau states this bill will have no fiscal impact on the Bureau in FY 2011 and each year thereafter.