COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0680-07
Bill No.: SB 385
Subject: Accountants; Boards, Commissions, Committees, Councils; Licenses-Professional; Department of Economic Development
Type: Original
Date: February 19, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the Office of the State Auditor; the Office of the State Treasurer; the Department of Corrections; the Department of Public Safety-Missouri State Highway Patrol; the Office of Administration-Division of Accounting, Division of Budget & Planning and Administrative Hearing Commission; the Office of the State Courts Administrator; the Coordinating Board for Higher Education; and the Department of Economic Development-Division of Professional Registration assume the proposal would have no fiscal impact on their agencies.
The Office of the Secretary of State assumes this act will require the Missouri State Board of Accountancy to promulgate rules. Based on experience with other divisions, the rules, regulations and forms issued by the Missouri State Board of Accountancy could require as many as 72 pages in the Code of State Regulations. For any given rule, roughly half again as many pages are published in the Missouri Register in the Code because cost statements, fiscal notes and the like are not repeated in Code. These costs are estimated. The estimated cost of a page in the Missouri Register is $23.00. The estimated cost of a page in the Code of State Regulations is $27.00. The actual cost could be more or less than the numbers given. The impact of this legislation in future years is unknown and depends upon the frequency and length of rules filed, amended, rescinded or withdrawn.
Oversight assumes the SOS could absorb the costs of printing and distributing regulations related to this proposal. If multiple bills pass which require the printing and distribution of regulations at substantial costs, the SOS could request funding through the appropriation process. Any decisions to raise fees to defray costs would likely be made in subsequent fiscal years.
In response to previous similar legislation, officials with the Office of the Attorney General assumed the proposal would have no fiscal impact on their agencies.
| FISCAL IMPACT - State Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
A direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This act would repeal the current Sections 326.011 through 326.230, RSMo, which relate to the licensure of and practice of accountants. The act would enact the Missouri Accountancy Act which is similar to the American Institute of Certified Public Accountants/National Association of State Boards of Accountancy Uniform Accountancy Act. This act would create a licensure scheme based on substantial equivalency for reciprocity in the practice of accountancy. All current certified public accountants and public accountants are grandfathered but will be required to comply with continuing education requirements adopted by the board for renewal of their licenses.
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 Economic Development
Division of Professional Registration
Department of Corrections
Department of Public Safety
Missouri State Highway Patrol
Coordinating Board for Higher Education
Office of Administration
Division of Accounting
Division of Budget & Planning
Administrative Hearing Commission
Office of State Courts Administrator
Office of the State Auditor
Office of the State Treasurer
Office of the Secretary of State
NOT RESPONDING
Office of the Attorney General
Jeanne Jarrett, CPA
Director
February 19, 2001