COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3591-12
Bill No.: HCS for SS for SCS for SB 1081
Subject: Consumer Protection; Contractors and Contracts; Housing
Type: Original
Date: April 26, 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 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 from the Office of State Courts Administrator assume this proposal would have no impact on their organization.
Officials from the Department of Economic Development; Division of Professional Registration, on behalf of the Missouri Real Estate Commission (MREC), stated the proposal would have no impact on MREC.
In response to a previous version of the proposal, officials from the Office of the Attorney General assumed the proposal would have no impact on their organization.
| 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
Office of the Attorney General
Department of Economic Development
Division of Professional Registration, on behalf of the
Missouri Real Estate Commission
Mickey Wilson, CPA
Director
April 26, 2004