This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0631 - Allows sale of certain records in the possession of the Secretary of State
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 2949-01
BILL NO. Truly Agreed To And Finally Passed SB 631
SUBJECT: Secretary of State: Public Records
TYPE: Original
DATE: April 28, 1998
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS Net Effect on All State Funds *Subject to market conditions ESTIMATED NET EFFECT ON FEDERAL FUNDS Net Effect on All Federal Funds
FUND AFFECTED
FY 1999
FY 2000
FY 2001 State Document
Preservation
$0 to $20,000
$0 to $10,000
$0 to $10,000
Total Estimated
$0 to $20,000*
$0 to $10,000*
$0 to $10,000*
FUND AFFECTED
FY 1999
FY 2000
FY 2001
Total Estimated
$0
$0
$0
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials from the Office of the Secretary of State (SOS) assume the sale of nonrecord, archival material would probably add revenue of approximately $20,000 the first year and approximately $5,000 to $10,000 each succeeding year. These figures are rough estimates and based on the sale of about 2,000 documents at an average of $10 each. In succeeding years, SOS could uncover approximately 500 to 1,000 documents suitable for sale. These nonrecord materials, however, would need appraisal by a professional dealer. Therefore, funds raised, in part, would depend on market conditions.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| STATE DOCUMENT | |||
| PRESERVATION FUND | |||
| Income-Office of the Secretary of State (SOS) | |||
| Sale of Nonrecord Material | $0 | $0 | $0 |
| to | to | to | |
| $20,000 | $10,000 | $10,000 | |
|
ESTIMATED NET EFFECT TO | |||
| STATE DOCUMENT | |||
| PRESERVATION FUND | $0 | $0 | $0 |
| to | to | to | |
| $20,000 | $10,000 | $10,000 | |
| *Subject to market conditions | |||
| FISCAL IMPACT - Local Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| $0 | $0 | $0 | |
FISCAL IMPACT - Small Business
No direct impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
The proposed legislation would authorize the State Records Commission to determine certain material to be nonrecord material and to direct the sale or transfer of such material. The proceeds of such sale or transfer would be deposited in the State Document Preservation Fund. The Director of the State Records Commission would retain a copy of any material subject to sale or transfer provided no other copies of the material are within the permanent control of the Director.
This legislation could affect total State Revenues.
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 the Secretary of State
Jeanne Jarrett, CPA
Director
April 28, 1998