COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: #3553-01
Bill No.: SB 984
Subject: Creating Statutory Liens for Agriculture Production
Type: Corrected
Date: April 21, 2004
# To correct the fiscal note number.
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials with the Office of State Courts Administrator, Secretary of State's Office, Department of Natural Resources, Department of Transportation and Department of Conservation assume no fiscal impact to their agencies.
Officials with the Department of Agriculture did not respond.
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $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 states that suppliers furnishing a crop production input, petroleum product, and/or feed have a lien for that product. The lien shall attach to all crops and proceeds which are produced utilizing the production input and all livestock consuming the feed. The liens established herein shall not apply to the portion of the crops and/or livestock that have been completely paid for by the producer. Perfection of the lien shall come from filing with the Missouri Secretary of State a uniform commercial code financing statement. A supplier may notify a lender of a lien by delivery of a lien-notification statement addressed to the lender; such delivery shall be by certified mail or another method evidencing receipt. This act establishes the priority of a lien over a security interest only in cases where such lien has been perfected, the order of priority is also laid out in this act. This act also lays out enforcement procedures for lien holders.
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 State Courts Administrator
Department of Natural Resources
Department of Transportation
Secretary of State's Office
Department of Conservation
NOT RESPONDING
Department of Agriculture
Mickey Wilson, CPA
Director
April 21, 2004