COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 1683-01
Bill No.: SB 521
Subject: Bonds - Surety; State Departments
Type: Original
Date: March 4, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials from Greene County, Jackson County, St. Charles County, County of St. Louis and the City of St. Louis did not respond to our fiscal impact request.
Officials from the Office of Administration - Divisions of Accounting, Budget and Planning, Facilities Management, and Design and Construction, Department of Transportation, Department of Insurance, City of Springfield, City of Kansas City, Central Missouri State University, Truman State University, Southwest Missouri State University and the University of Missouri assume the proposal would have no fiscal impact on their agencies.
Officials from the Office of Administration - Division of Purchasing and Materials Management (DPMM) assume the proposal would have no fiscal impact on their division. DPMM notes their division does not currently issue bid specifications or award contracts that encourage or require contractors to enter into agreements with any particular insurance or surety company.
| FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $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 proposal prohibits public entities and persons acting on behalf of public entities from requiring bidders and contractors on public works construction projects to obtain surety bonds from specific insurance or surety companies.
This proposal 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 Administration
- Accounting
- Budget and Planning
- Design and Construction
- Facilities Management
- Purchasing and Materials Management
Department of Transportation
Department of Insurance
City of Springfield
City of Kansas City
Central Missouri State University
Truman State University
Southwest Missouri State University
University of Missouri
NOT RESPONDING
Greene County
Jackson County
St. Charles County
County of St. Louis
City of St. Louis
Mickey Wilson, CPA
Director
March 4, 2003