70060010 - Division of Banks

Account Description FY2009
7006-0010 Division of Banks
For the operation of the division of banks; provided, that notwithstanding any general or special law to the contrary, 100 per cent of the amount appropriated in this item shall be assessed upon financial institutions which the division currently regulates pursuant to powers granted to the division by the general or special laws or by regulations; and provided further, that this assessment shall be in addition to any assessments that the division currently assesses upon financial institutions and shall be made at a rate sufficient to produce $12,931,502 in additional revenue that shall pay for this item
12,051,388 12,931,502

Budget Reduction Explanation:   Reduces administrative expenses.