Colorado Legislative Council Staff
STATE
FISCAL IMPACT
Drafting Number: Prime Sponsor(s): |
LLS 99-0388 Sen. Lacy Rep. Dean |
Date: Bill Status: Fiscal Analyst: |
January 14, 1999 Senate Business Affairs Will Meyer (303-866-4976) |
TITLE: CONCERNING THE CREATION OF AN ELECTRONIC ACCESS PROGRAM FOR THE CONFIDENTIAL RELEASE OF EMPLOYMENT INFORMATION TO CONSUMER REPORTING AGENCIES BY THE COLORADO DEPARTMENT OF LABOR AND EMPLOYMENT, AND, IN CONNECTION THEREWITH, AUTHORIZING THE DEPARTMENT TO ENTER INTO CONTRACTS WITH CONSUMER REPORTING AGENCIES FOR THE PURPOSE OF FUNDING, DESIGNING, AND IMPLEMENTING SUCH PROGRAM.
Fiscal Impact Summary |
FY 1999/2000 |
FY 2000/2001 |
State Revenues Cash Fund |
$74,810 |
$4,343 |
State Expenditures Cash Fund |
$74,810 |
$4,343 |
FTE Position Change |
0.0 FTE |
0.0 FTE |
Other State Impact: TABOR |
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Effective Date: Upon signature of the Governor |
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Appropriation Summary for FY 1999-2000: Department of Labor and Employment: UI cash fund – $74,810 |
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Local Government Impact: None identified |
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Summary of Legislation
The bill requires the Department of Labor and Employment to enter into a written contract with consumer reporting agencies for the design, implementation, and administration of an electronic access program that will enable the department to release wage and employment history information of credit applicants to any consumer reporting agency. The bill prohibits the department from providing such information before the consumer reporting agency or agencies under contract pay all of the development and startup costs incurred by the department. The bill provides that information made available will be limited to wages paid for up to sixteen quarters prior to the quarter in which the request is made.
State Revenues
The bill requires the department to enter into a written contract with a consumer reporting agency or agencies and that all of the development and startup costs be repaid prior to the department providing any information. It is estimated that the department will receive $74,810 in FY 1999/00 and $4,343 in FY 2000/01 as repayments for the incurred costs.
State Expenditures
The department will need to modify its unemployment benefits computer system and administer the contract on an ongoing basis. It is estimated that the department will spend $74,810 CF to modify the computer system and to administer the contract in FY 1999/00 and $4,343 in FY 2000/01.
State Appropriations
This fiscal note implies that the Department of Labor and Employment should be appropriated $74,810 in cash funds in FY 1999/00.
Departments Contacted
Labor and Employment