COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
LR No.: 3589-01
Bill No.: SB 1183
Subject: Political Parties: Subdivision Regulation
Type: Original
Date: February 27, 2004
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 Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 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 | (Unknown) | (Unknown) | (Unknown) |
ASSUMPTION
Officials of the Department of Natural Resources assume no fiscal impact.
Officials of the Jefferson City - City Counselors Office stated that if "cities cannot require a bond to be posted for compliance with regulations, only for improvements, this shifts the cost burden to the cities. Examples might be regulations requiring erosion abatement or prohibiting mud accumulation on streets. If these are not followed, the city would bear the cost of repair".
Officials of the Jasper County, Jefferson County, Platte County, and Greene County Commissions assume no fiscal impact.
| 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 |
| CITIES AND COUNTIES | |||
| Cost to Cities and Counties | |||
| repair costs | (Unknown) | (Unknown) | (Unknown) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
In accordance with this act, cities and towns may only impose requirements for the posting of bonds or escrows for subdivision-related improvements. In lieu of completion of work and installations prior to the final approval of a plat, the council will accept, at the option of the developer, an escrow secured with cash, an escrow secured with an irrevocable letter of credit, or a surety bond.
Under this act, regulations shall provide that in the event a developer, who has posted a bond or an escrow with the city, transfers title of the subdivision property prior to full release, the municipality will accept a replacement escrow from the successor. The city will accept a replacement in the amount held by the city at the time of the property transfer. Upon receiving the replacement escrow, the city shall fully release the original escrow or bond and the prior developer from all obligations associated with the subdivision improvements.
This act includes "bond amount" where the statute previously referred only to "escrow funds."
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
Department of Natural Resources
Jefferson City - City Counselor
Jasper County Commission
Greene County Commission
Platte County Commission
Jefferson County Commission
Mickey Wilson, CPA
Director
February 27, 2004