LEGISLATIVE FISCAL ESTIMATE TO

[First Reprint]

ASSEMBLY, No. 2663

STATE OF NEW JERSEY

DATED: MARCH 7, 1997

      Assembly Bill No. 2663 (1R) of 1997 would authorize the Department of the Treasury to establish a State-sponsored affinity card program. If the State Treasurer determines that it is feasible for the State to sponsor such a card, fees raised by this card would be used for the acquisition of land for recreation and conservation purposes under the State Green Acre program and for fish and wildlife management.

      The Department of the Treasury has provided no fiscal information on this bill. Information provided by the National Conference of State Legislatures indicates that in 1992, the State of Alabama offered a Visa affinity card to State residents. Proceeds of this card were to be used for abused and neglected children in the state. The bank which issued the card estimated that income to the State from the program would be approximately $40,000 in the second year of the program. It does not appear that any other States have issued such cards to date.

      The Office of Legislative Services (OLS) is unable to determine the annual revenue which would accrue to the State should such a card become available. No information is available on the number of State residents who might be interested in a State-sponsored card or on the interest rates, annual fees or terms of purchase a bank would charge.

      This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.