COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 2893-01
Bill No.: SB 782
Subject: Housing; Public Assistance; Missouri Housing Development Commission.
Type: Original
Date: December 28, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| General Revenue * | $0 to ($600,000) | $0 to ($600,000) | $0 to ($600,000) |
| Total Estimated
Net Effect on All State Funds |
$0 to ($600,000) | $0 to ($600,000) | $0 to ($600,000) |
* Subject to appropriation
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| None | |||
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Local Government* | $0 to $600,000 | $0 to $600,000 | $0 to $600,000 |
* Subject to appropriation
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
The Department of Economic Development - Missouri Housing Development Commission (MHDC) assumes this proposal would allow them to make grants to Community Housing Development Organizations (CHDO) for their basic operating expenses.
The MHDC expects to be able to administer this program with existing staff and resources. The MHDC indicated they would request a $600,000 annual appropriation to provide for the grant and assistance programs specified in the proposal.
Officials from the Office of Administration (COA) did not respond to our request for fiscal impact. However, in response to similar legislation from a prior year, COA assumed no fiscal impact to their agency resulting from this proposal.
Officials from the St. Louis Housing Authority and the Kansas City Housing Authority did not respond to our request for fiscal impact.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| GENERAL REVENUE FUND | |||
| Cost - Grants & program assistance* | $0 to ($600,000) | $0 to ($600,000) | $0 to ($600,000) |
| ESTIMATED NET EFFECT ON THE GENERAL REVENUE FUND |
$0 to ($600,000) |
$0 to ($600,000) |
$0 to ($600,000) |
| *Subject to appropriation | |||
|
|
| FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| Income - Local community housing development organizations could receive state grants for obtaining and administering federal grant funds. * |
$0 to $600,000 |
$0 to $600,000 |
$0 to $600,000 |
* Subject to appropriation
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal authorizes an appropriation to the Missouri Housing Development Commission for grants to pay for operation and grant administration costs incurred by community housing development
organizations. To qualify, the agency must be tax-exempt, have an independent board of directors predominated by representatives of the local community, and have as their primary activity the construction and rehabilitation of affordable housing for households with 80% or less of the local median income.
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
Missouri Housing Development Commission
Office of Administration
NOT RESPONDING: St. Louis Housing Authority, Kansas City Housing Authority
Jeanne Jarrett, CPA
Director
December 28, 2001