COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 2910-02
BILL NO.: Perfected SB 556
SUBJECT: Corporations: Not for Profit, Religion
TYPE: Original
DATE: February 10, 2000
FISCAL SUMMARY
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the Office of Secretary of State (SOS) assume no fiscal impact.
Oversight assumes no local fiscal impact.
FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003
(10 Mo.)
$0 $0 $0
FISCAL IMPACT - Local Government FY 2001 FY 2002 FY 2003
(10 Mo.)
$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 amends the Missouri Not for Profit Act to remove the requirement that a church's article of incorporation or bylaws must be amended by a corporate board. Under this act, a church that wants to amend its bylaws or articles will simply have to get the bylaws or articles of incorporation approved by 2/3 of the votes cast by its members and by a specified person or persons if the articles require it.
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
Secretary of State
Jeanne Jarrett, CPA
Director
February10, 2000