COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3739-03
Bill No.: Truly Agreed To and Finally Passed HCS for SCS for SB 892
Subject: Administrative Law; Boards, Commissions, Committees, Councils; Cemeteries; Economic Development Dept; Cemeteries; Funerals and Funeral Directors; Licenses - Professional
Type: Original
Date: May 15, 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 Department of Economic Development - Division of Professional Registration indicated that this proposal would have no fiscal impact on their agency.
| 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
Small businesses (cemetery operators) could receive interest income on the sale of pre-purchased services.
DESCRIPTION
Interment, entombment and inurnment cemetery services are added to the list of services that may be pre-purchased from a cemetery, subject to the cemetery owner meeting certain requirements regarding the deposit of forty percent of funds from the sale of services into a trusteed account. The proposal also addresses the use of funds in the trusteed account.
This proposal shall apply only to agreements for pre-purchased services entered into after August 28, 2002.
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
Division of Professional Registration
Mickey Wilson, CPA
Acting Director
May 15, 2002