COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3397-05
Bill No.: Truly Agreed To and Finally Passed HCS for SS for SCS for SB 840
Subject: Housing; Real and Personal Property; Contracts and Contractors; Courts; Professional Licenses; Architects
Type: Original
Date: May 20, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| None | |||
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| 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 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the Department of Economic Development - Division of Professional Registration and the Department of Conservation assume the proposed legislation would have no fiscal impact on their agencies.
In response to a previous version of this proposal, officials from the Department of Corrections and the Department of Natural Resources assumed the proposal would have no fiscal impact on their agencies.
Officials from the Office of State Courts Administrator assume the proposed legislation would have no fiscal impact on the courts.
Officials from the Department of Transportation (MoDOT) assume the legislation revises the statute of limitations on damage or economic loss against persons who perform or furnish design, planning, or construction services for improvements to real estate (including architectural, engineering, or construction services) for ten years after the date that improvement was completed, if the improvement is in a defective or unsafe condition. MoDOT assumes no fiscal impact.
| 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
The proposal could have a fiscal impact on small businesses.
DESCRIPTION
Under current law, actions to recover for personal injury, property damage, or wrongful death caused by a defective condition in the design, planning, or construction of an improvement to real property must be commenced within 10 years of the date the improvement is completed. This substitute adds economic loss to the items of damage that may be recovered and specifies that if an occupancy permit is issued, the 10-year statute of limitation begins to run on that issue date.
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 Transportation
Department of Conservation
Office of State Courts Administrator
Department of Economic Development
- Division of Professional Registration
Department of Corrections
Department of Natural Resources
Mickey Wilson, CPA
Acting Director
May 20, 2002