Fiscal Note - SB 0116 - Land Trusts May Sell Land For Housing Purposes With Less Than 2/3 Vote
L.R. NO. 0587-01
BILL NO. SB 116
SUBJECT: Tax: Property; Housing
TYPE: Original
DATE: January 28, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None
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
None
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
Jackson County Executive assumes no fiscal impact.
Oversight notes that in identical legislation from last session (1996), St.
Louis County and The City of St. Louis assumed no 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
This act would allow land trustees to convey real estate to a nonprofit
organization for housing purposes at less than 2/3 of the appraised value
with less than 2/3 consent of the appointing authorities.
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
St. Louis County
St. Louis City
Jackson County
This Fiscal Note is not an official copy and should not be quoted or cited.