Fiscal Note - SB 0105 - Allows the Creation of a Cooperative Company By Five Or More Persons
L.R. NO. 0208-02
BILL NO. Perfected SCS for SB 105
SUBJECT: Business: Cooperatives
TYPE: Original
DATE: March 5, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials of the Office of Secretary of State (SOS) and the Department of
Agriculture (AGR) assume no fiscal impact to their offices.
Oversight assumes no local fiscal impact.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of
this proposal.
DESCRIPTION
Adds a new section to Chapter 357, RSMo, relating to housing cooperatives.
The new section allows 5 or more people to associate as a cooperative for the
purpose of producing or furnishing housing. No shareholder of such a
cooperative may own more than 20% of the aggregate stock and the cooperative
would be exempted from the use of the funds restriction found in section
357.150, RSMo.
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
Secretary of State
Department of Agriculture
This Fiscal Note is not an official copy and should not be quoted or cited.