COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4747-01
Bill No.: Truly Agreed To and Finally Passed SB 1320
Subject: Banks and Financial Institutions; State Departments; Contracts and Contractors
Type: Original
Date: May 7, 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
The following state agencies, colleges, and universities stated this proposal would have no fiscal impact: Department of Economic Development - Division of Finance and Division of Credit Unions, Department of Public Safety - Missouri Veterans Commission, Department of Elementary and Secondary Education, Department of Revenue - Division of Taxation, Office of State Treasurer, Linn State Technical College, and Truman University.
Officials from the Department of Mental Health stated any fiscal impact of this proposal would be minimal.
Officials from the Office of State Courts Administrator stated this proposal would have no fiscal impact on the Courts.
| 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 proposal authorizes the management of any state institution with control of any funds to solicit bids from banks in any year in which the bid is requested. Currently, such bids shall only be solicited in odd-numbered years. The proposal provides that bids may be for a period of one to four years. Banks are authorized to submit bids for a term of up to four years.
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 Public Safety
Missouri Veterans Commission
Department of Elementary and Secondary Education
Department of Mental Health
Department of Economic Development
Division of Finance
Division of Credit Unions
Office of State Courts Administrator
Department of Revenue
Division of Taxation
Office of State Treasurer
Linn State Technical College
Truman University
Mickey Wilson, CPA
Director
May 7, 2004