HB601 (2015) Detail

Relative to cash dispensing machine requirements.


HB 601-FN - AS INTRODUCED

2015 SESSION

15-0373

08/03

HOUSE BILL 601-FN

AN ACT relative to cash dispensing machine requirements.

SPONSORS: Rep. Schleien, Hills 37; Rep. Spillane, Rock 2; Rep. Ammon, Hills 40; Sen. Avard, Dist 12

COMMITTEE: Commerce and Consumer Affairs

ANALYSIS

This bill removes the requirement that operators of cash dispensing machines notify the banking commission of the operation of cash dispensing machines.

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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Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

15-0373

08/03

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Fifteen

AN ACT relative to cash dispensing machine requirements.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1 Establishment of Cash Dispensing Machines. Amend RSA 399-F:2, I(a) through (c) to read as follows:

(a) Does not accept deposits, loan payments, or effectuate account transfers;?and

(b) Is not operated in such a way as to violate the Electronic Funds Transfer Act, 15 U.S.C. section 1693 et seq. or regulations promulgated thereunder[; and?

(c) Is in complete and accurate compliance with the provisions of RSA 399-F:3].?

2 Repeal. The following are repealed:

I. RSA 399-F1, IX, relative to the definition of “servicing agent.”

II. RSA 399-F:3, relative to notice of operation of cash dispensing machines.

III. RSA 399-F:5, relative to collection of fees for the operation of cash dispensing machines.

3 Effective Date. This act shall take effect July 1, 2015.

LBAO

15-0373

01/26/15

HB 601-FN - FISCAL NOTE

AN ACT relative to cash dispensing machine requirements.

FISCAL IMPACT:

    The Banking Department states this bill, as introduced, will decrease state revenue by $61,300 in FY 2016 and each year thereafter. There is no fiscal impact on county and local revenue, or state, county and local expenditures.

METHODOLOGY:

    The Banking Department states this bill removes the requirement that an operator of a cash dispensing machine annually provide notice and specific information regarding the machine to the Department. This bill also repeals the requirement to pay a fee for each notice of a cash dispensing machine. The Department states it has notice of 1,226 cash dispensing machines which will result in a revenue decrease of approximately $61,300 (1,226 machines * $50 fee) in each fiscal year.

Links

HB601 at GenCourtMobile

Action Dates

Date Body Type

Bill Text Revisions

HB601 Revision: 28064 Date: Dec. 16, 2015, midnight

Docket