123rd MAINE LEGISLATURE
		LD 456		LR 895(02)
	An Act To Protect Holders of Small Bank Accounts
	Fiscal Note for Bill as Amended by Committe Amendment " "
	Committee: Insurance and Financial Services
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$5,000	$5,000	$5,000	$5,000
Revenue
	General Fund		($5,000)	($5,000)	($5,000)	($5,000)
Fiscal Detail and Notes
	Allowing financial institutions to recoup costs associated with mailing written notices by certified mail to owners of unclaimed accounts will reduce amounts turned over to the Unclaimed Property Fund and subsequently reduce the amount transferred to the General Fund at the end of each fiscal year by approximately $5,000 annually.  This estimate is based on 625 accounts per year and certified mail costs of $8.29 per account.