COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
LR No.: 2163-01
Bill No.: Perfected SB 610
Subject: County Officials: Surety Bonds
Type: Original
Date: March 29, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Local Government | $0 to (Unknown) | $0 to (Unknown) | $0 to (Unknown) |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the Office of State Auditor stated there would be no fiscal impact to their office.
The Nodaway County Treasurer stated that the county currently bonds the Deputy Treasurers for $50,000 each. Officials assume if this amount would not meet the requirements of this proposal there would be additional cost for providing sufficient bonds.
Oversight assumes there could be some cities or counties that do require or provide surety bonds for Deputy Collectors and Treasurers. Counties that are not currently providing bonding for these offices would realize an increase in cost of providing bonds. Oversight does not know the number of cities or counties that currently provide sufficient bonding of deputies, therefore impact to local government will be shown as $0 to Unknown. Fiscal impact on a statewide basis is not expected to exceed $100,000 annually.
| 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 |
| LOCAL GOVERNMENTS | |||
| Cost to Certain Cities and Counties | |||
| from providing bonds for certain officials | $0 to (Unknown) | $0 to (Unknown) | $0 to (Unknown) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This act requires all deputies or assistants that are appointed by the collector or treasurer ex officio collector to provide a bond that is approved by the collector.
The bond amount will not exceed one-half of the amount of the maximum bond required for any collector or treasurer ex officio collector. The county or city that is being protected will provide the premium for the bond.
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 the State Auditor
Nodaway County Treasurer
Jeanne Jarrett, CPA
Director
March 29, 2001