SB 0351 - Fiscal Note

Fiscal Note - SB 0351 - Broadens Recording Fee For Housing Trust Fund

L.R. NO.  1191-01
BILL NO.  SB 351
SUBJECT:  County Fees: Housing
TYPE:     Original
DATE:     March 3, 1997



                              FISCAL SUMMARY

                    ESTIMATED NET EFFECT ON STATE FUNDS


FUND AFFECTED              FY 1998             FY 1999           FY 2000
Mo. Housing Trust          Unknown             Unknown           Unknown

Total Estimated
Net Effect on All
State Funds               Unknown*            Unknown*          Unknown*
*Annual Revenue is expected to exceed $100,000


                   ESTIMATED NET EFFECT ON FEDERAL FUNDS


FUND AFFECTED              FY 1998             FY 1999           FY 2000


Total Estimated
Net Effect on All
Federal Funds                   $0                  $0                $0


                    ESTIMATED NET EFFECT ON LOCAL FUNDS


FUND AFFECTED              FY 1998             FY 1999           FY 2000
Local Government                $0                  $0                $0


                              FISCAL ANALYSIS


ASSUMPTION

Officials of the Department of Economic Development (DED) - Missouri Housing
Development Commission assume this proposal would increase the amount of fees
that would be deposited into the Missouri Housing Trust Fund.  Officials
could not estimate the amount of additional revenue expected, however,
officials assume they would be able to administer these additional funds with
current staff.

Officials of the Office of Administration (COA), Department of Revenue (DOR),
and the State Treasurer's Office (STO) assume no fiscal impact.

The Callaway County and Monroe County - Recorder of Deeds assume no fiscal
impact.

Oversight assumes collecting a fee of $3.00 on all recorded documents rather
than only mortgage related documents would generate fees in excess of
$100,000 annually.  Income to the Missouri Housing Trust Fund will be shown
as unknown.


Oversight assumes, based on information supplied by Recorders of Deeds, that
any impact to counties would be insignificant and would have no fiscal
impact.


FISCAL IMPACT - State Government      FY 1998   FY 1999   FY 2000
                                     (10 Mo.)

MO. HOUSING TRUST FUND

Income to Mo. Housing Trust Fund
  (Section 59.319. 2 and 3)
  Increase in Fee Revenue
  Recorder of Deeds                   Unknown   Unknown   Unknown

ESTIMATED NET EFFECT TO
MO. HOUSING TRUST FUND               Unknown*  Unknown*  Unknown*


*Income is expected to exceed $100,000 annually.


FISCAL IMPACT  - Local Government     FY 1998   FY 1999   FY 2000
                                     (10 Mo.)

Income to Recorder of Deeds
  (Section 59.319. 2 and 3)
  Collection of Fees                  Unknown   Unknown   Unknown

Cost to Recorder of Deed
  (Section 59.319. 2 and 3)
 To Mo. Housing Trust Fund          (Unknown) (Unknown) (Unknown)

ESTIMATED NET EFFECT TO
COUNTY RECORDER OF DEEDS                  $0*       $0*       $0*

*Income collected from fees would equal cost when Recorders turn over fees
collected.

FISCAL IMPACT - Small Business

No direct fiscal impact to small businesses would be expected as a result of
this proposal.


DESCRIPTION

The three dollar fee collected by the county recorder for the Missouri
Housing Trust fund is applied to all instruments recorded, not just to deeds
and other instruments of real estate.

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 - Mo. Housing Development Commission
Office of Administration
Department of Revenue
State Treasurer
Callaway County - Recorder of Deeds
Monroe County - Recorder of Deeds


NOT RESPONDING:  Recorder of Deeds of : Greene, Boone, Clay, Franklin, Taney,
and St. Louis Counties, Director of Records - Jackson County.