COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4466-02
Bill No.: SB 1124
Subject: Easements and Conveyances; Property, Real and Personal; St. Louis
Type: Original
Date: February 18, 2002
FISCAL SUMMARY
| FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
| General Revenue | Unknown | ($42,000) | ($42,000) |
| Total Estimated
Net Effect on All State Funds |
Unknown | ($42,000) | ($42,000) |
| 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 City of St. Louis did not respond to our fiscal impact request.
Officials from the Office of the Governor (GOV) did not respond to our fiscal impact request. However, in response to a similar proposal from the current session, GOV assumed the proposed legislation would have no fiscal impact on their agency.
Officials from the Office of the Attorney General assume costs that could result from passage of this proposal could be absorbed within existing resources.
Officials from the Office of Administration - Division of Design and Construction (COA) note they currently occupy 2000 square feet in this building at no cost. If sold, COA would be required to pay rent to the new owner or find other space. Including utilities and janitorial costs, COA's annual cost would be $42,000. COA assumes even though costs would approximate $42,000 per year for replacement space, this cost would be offset by the sale value of the property. COA states the property value is unknown at this time but would be well in excess of $42,000.
Oversight assumes the sale of property would occur in FY 2003, at an unknown price, resulting in unknown income in FY 2003 and a loss of $42,000 annually thereafter.
| FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
| GENERAL REVENUE | |||
| Income - Sale of Property (COA) | Unknown | $0 | $0 |
| Loss - Cost to Rent Space (COA) | $0 | ($42,000) | ($42,000) |
| ESTIMATED NET EFFECT ON GENERAL REVENUE FUND | Unknown | ($42,000) | ($42,000) |
| 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 proposal authorizes the state to convey state property in St. Louis known as the Hubert Wheeler State School. The state Commissioner of Administration is responsible for setting the terms and conditions of the public sale of the property. The Office of the Attorney General shall approve as to form the instrument of conveyance.
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
Office of Administration - Division of Design and Construction
Office of the Attorney General
NOT RESPONDING
Office of the Governor
City of St. Louis
Mickey Wilson, CPA
Acting Director
February 18, 2002