Brief ⁽¹⁾

SB 350 would establish the Electronic Transactions Registration Fee Fund within the office of the Secretary of State to receive registration fees and fines collected under the Uniform Electronic Transactions Act. Expenditures from the fund are to be made only for costs incurred in carrying out the provisions of the Act.

Background

The Committee introduced the bill on the recommendation of the Ways and Means Subcommittee which reviewed the Secretary of State's budget. The Assistant Secretary of State appeared before the Committee in favor of the bill. There were no opponents presenting testimony.

A fiscal note on the bill was unavailable.

1. *Supplemental notes are prepared by the Legislative Research Department and do not express legislative intent. The supplemental note and fiscal note for this bill may be accessed on the Internet at http://www.ink.org/public/legislative/fulltext.cgi