SB 0632 - Fiscal Note

Fiscal Note - SB 0632 - Gives Option for Commercial Vehicle Registration Payment

L.R. NO.  2450-01
BILL NO.  Perfected SB 632
SUBJECT:  Vehicles
TYPE:     Original
DATE:     February 29, 1996



                              FISCAL SUMMARY
                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None

Total Estimated
Net Effect on All
State Funds                     $0                  $0                $0

                   ESTIMATED NET EFFECT ON FEDERAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

None

Total Estimated
Net Effect on All
Federal Funds                   $0                  $0                $0

                    ESTIMATED NET EFFECT ON LOCAL FUNDS


FUND AFFECTED              FY 1997             FY 1998           FY 1999

Local Government                $0                  $0                $0



                              FISCAL ANALYSIS

ASSUMPTION

Officials from the Department of Revenue indicated the proposal would not
have an administrative impact on their department.



FISCAL IMPACT - State Government   FY 1997   FY 1998   FY 1999
                                  (10 Mo.)

                                        $0        $0        $0


FISCAL IMPACT  - Local Government  FY 1997   FY 1998   FY 1999
                                  (10 Mo.)

                                        $0        $0        $0


DESCRIPTION

The proposed legislation would allow owners of commercial motor vehicles or
trailers to use an irrevocable letter of credit as a method to guarantee the
payment of the second installment for annual registration fees with the
Department of Revenue.

This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.

SOURCES OF INFORMATION

Department of Revenue