HB 1528 Summary

• Repeals the requirement that $2,000,000 of taxes collected on bank and financial corporations be deposited annually to the compliance resolution fund.

• Establishes criteria for adjusting fees and assessments collected by the Division of Financial Institutions based on compliance resolution fund balances and anticipated revenues.

• Requires automatic reduction or cessation of renewal fees for mortgage loan recovery fund, contractors recovery fund, real estate recovery fund, real estate education fund, and condominium education fund once specified funding levels are reached.

• Sets cable operator annual fees at 4.5% of subscriber income from cable services rendered in the preceding year, with authority for the Director to reduce fees if they exceed administration costs for chapter 440G.

• Effective date: July 1, 2019.