COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 2965-01
Bill No.: Perfected SB 742
Subject: Estates, Wills and Trusts
Type: Original
Date: February 20, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the Department of Revenue (DOR) state this legislation corrects an erroneous internal cross reference. DOR assumes this proposal would not fiscally impact their agency.
DOR assumes the amendment would not have any administrative impact on DOR.
The Department of Economic Development (DED) officials did not respond to our fiscal note request.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| $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 legislation makes a technical correction to Subsection 2 of Section 469.411.5 by changing the reference from Section 469.409 to 469.405.
The Senate committee amendment defines certain persons and activities as not considered to be engaged in the trust business.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCE OF INFORMATION
Department of Revenue
NOT RESPONDING:
Department of Economic Development
Mickey Wilson, CPA
Acting Director
February 20, 2002