Enactment of this legislation could increase dedicated credits revenue to the Department of Financial Institutions by $1,000 ongoing in FY 2027 and $1,500 one-time in FY 2026 for required licenses. Additionally, this legislation could increase dedicated credits revenue to the Department of Financial Institutions by $1,000 per violation generating an administrative fine; however, the number of these fines and their aggregate amount is unknown. Enactment of this legislation could decrease the annual transfer from the Commerce Service Account to the General Fund by $8,900 ongoing and $5,000 one-time beginning in FY 2027 for expenditures listed below.

Enactment of this legislation could increase costs for the Department of Financial Institutions by $188,000 ongoing from the Financial Institutions Restricted Account beginning in FY 2027 for personnel to regulate virtual currency kiosk operators. Enactment of this legislation could also increase costs for the Department of Commerce by $8,900 ongoing beginning in FY 2027 and $5,000 one-time in FY 2027 from the Commerce Service Account for enforcement and system updates. Enactment of this legislation could increase costs for the Department of Public Safety by $1,600 ongoing from the General Fund beginning in FY 2027 for personnel expenses and training costs required once every three years and for quarterly reporting, which the Department indicated it can absorb. Additionally, reporting costs for the Commission on Criminal and Juvenile Justice could increase by $3,200 ongoing from the General Fund beginning in FY 2027, which it can absorb. As reporting requirements will be repealed July 1, 2030, reporting costs could decrease for the Department of Public Safety by $200 ongoing from the General Fund and the Commission on Criminal and Juvenile Justice by $3,200 ongoing from the General Fund beginning in FY 2031; both of these reductions were from absorbed costs.