SB 0568 - Fiscal Note

Fiscal Note - SB 0568 - Perfected liens on manufactured homes to have priority over real estate interests

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO. 2413-01

BILL NO. SB 568

SUBJECT: Business and Commerce; Manufactured Housing

TYPE: Original

DATE: February 16, 1998

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FISCAL SUMMARY

ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
None
Total Estimated Net Effect on All State Funds	$0	$0	$0

ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
None
Total Estimated Net Effect on All Federal Funds	$0	$0	$0

ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
Local Government	$0	$0	$0

Numbers within parentheses: ( ) indicate costs or losses

This fiscal note contains 2 pages.

FISCAL ANALYSIS

ASSUMPTION

Officials from the Office of the Secretary of State (SOS) and the Department of Economic Development (DED) - Public Service Commission (PSC) assume the proposed legislation would have no fiscal impact on their agencies.

FISCAL IMPACT - State Government	FY 1999	FY 2000	FY 2001
	(10 Mo.)
	0	0	0
FISCAL IMPACT - Local Government	FY 1999	FY 2000	FY 2001
	(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

The proposed legislation would give priority of a perfected security interest in a manufactured home over the conflicting interest of a lender or owner of the real estate if the security agreement was made before the manufactured home was placed upon the real estate.

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

Office of the Secretary of State

Department of Economic Development - Public Service Commission

Jeanne Jarrett, CPA

Director

February 16, 1998