COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 2998-01
BILL NO.: Perfected SB 643
SUBJECT: Property: Real and Personal
TYPE: Original
DATE: February 22, 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 State Tax Commission, the State Courts Administrator, and the Secretary of State indicated that the proposal would not directly affect their agencies.
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
Small businesses which own condominiums could be affected by this proposal.
DESCRIPTION
This proposal would specify that condominium bylaws could be changed by a majority of condominium unit owners with voting rights. Under current law the method for amending bylaws is specified in the bylaws. The proposal would also allow 80% of the owners of units, or any larger percentage specified in the declaration, to prohibit or materially restrict permitted uses or occupancy of a unit or the number or other qualification of persons who could occupy units.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. It would not affect Total State Revenue.
SOURCES OF INFORMATION
Secretary of State
State Courts Administrator
State Tax Commission
Jeanne Jarrett, CPA
Director
February 22, 2000