COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3211-02
Bill No.: Perfected SCS for SB 776
Subject: Education, Higher; Treasurer, State; Public Records, Public Meetings
Type: Original
Date: February 14, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| 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 from the Office of the State Treasurer and the Department of Higher Education assume no fiscal impact to their organizations.
Officials from the Office of the Secretary of State assume this bill allows members of the Missouri Higher Education Savings Program Board to designate proxies with full voting privileges. The Missouri Higher Education Savings Program Board would promulgate rules to implement this bill. Based on experience with other divisions, the rules, regulations and forms issued by the Missouri Higher Education Savings Program Board could require as many as 8 pages in the Code of State Regulations. For any given rule, roughly half again as many pages are published in the Missouri Register as 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of this legislation in future years is unknown and depends upon the frequency and length of rules filed, amended, rescinded or withdrawn.[(8x$27)+(16x$23)=$584]
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.
| 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 would protect the privacy of participants in the Missouri higher education savings program by restricting personally identifiable information concerning participants and beneficiaries to internal administrative uses. It would also allow members of the Missouri Higher Education Savings Program Board to designate proxies who would have full voting privileges and be counted for purposes of establishing a quorum.
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
Coordinating Board for Higher Education
State Treasurer's Office
Secretary of State
Mickey Wilson, CPA
Acting Director
February 14, 2002