COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3591-01
Bill No.: SB 1081
Subject: Consumer Protection; Contractors and Contracts; Housing
Type: Original
Date: February 9, 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 Otherl 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 | $0 | $0 | $0 |
ASSUMPTION
Officials from the Office of State Courts Administrator and the Department of Economic Development; Division of Professional Registration, on behalf of the Missouri Real Estate Commission, assume this proposal would have no impact on their organizations.
Officials from the Office of the Attorney General did not respond to our request for information.
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
This proposal would impact small businesses involved in construction, ownership, and management of residential real property by imposing a specific process for resolving alleged construction defects.
DESCRIPTION
This proposal would require the owner of residential real property to notify a builder of alleged property defects and submit to inspections and mediation before initiating legal action. The proposal includes specific deadlines for notice and response by owner and contractor, procedures for conducting inspections, and the method of selecting a mediator.
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 Economic Development
Division of Professional Registration, on behalf of the
Missouri Real Estate Commission
NOT RESPONDING
Office of the Attorney General
Mickey Wilson, CPA
Director
February 9, 2004