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 0847 - Licensing of real estate appraisers
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 2953-03
BILL NO. SB 847
SUBJECT: Boards and Commissions; Licenses - Professional
TYPE: Original
DATE: February 7, 1998
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS Net Effect on All State Funds
FUND AFFECTED
FY 1999
FY 2000
FY 2001 None
$0
$0
$0
Total Estimated
$0
$0
$0
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 1999 | FY 2000 | FY 2001 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All Federal Funds |
$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 Department of Economic Development - Division of Professional Registration (DPR) assume this legislation would make various changes to meet the federal requirements for real estate appraisers and therefore, would have no fiscal impact on DPR.
Officials from the Office of the Secretary of State (SOS) assume the proposed legislation would require the printing of additional pages in the Missouri Register and the Code of State Regulations and have estimated a one-time publishing and distribution cost of $3,025 for FY 99. While this bill alone would not require SOS to acquire additional staff, SOS assumes the
cumulative effect of additional Register and Code publishing duties could, at some point, require additional staff. However, Oversight assumes SOS could increase fees to cover any additional costs, per Section 536.033, RSMo.
Officials from the Office of the Attorney General (AGO), Department of Revenue (DOR), Office of State Courts Administrator (CTS), Department of Transportation (DHT), Administrative Hearing Commission (AHC) and the Office of the State Treasurer (STO) assume the proposed legislation would have either minimal or no fiscal impact on their agencies.
| FISCAL IMPACT - State Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 1999 | FY 2000 | FY 2001 |
| (10 Mo.) | |||
| $0 | $0 | $0 | |
| FISCAL IMPACT - Small Business | |||
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
Current law provides for two classes of certified real estate appraisers. These are residential real estate appraiser and general real estate appraiser. This act adds state-licensed real estate appraiser to the list. The act contains provisions covering license renewal, failure to renew in a specified time and renewal of an expired license. The act also deletes the thirty hour requirement for continuing education. This requirement will be set by the Appraisal Qualification Board with the approval of the Real Estate Commission. Various definitions are changed or added to Section 339.503 of this act. The Real Estate Commission may refuse to issue or renew any certificate or license issued pursuant to sections 339.500 to 339.549 for any cause set out in subsection 2 of section 339.532 of this act. Violations of the provisions of Sections 339.500 to 339.549 of this act are Class B misdemeanors.
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
Office of the Secretary of State
Office of the Attorney General
Department of Revenue
Office of State Courts Administrator
Department of Transportation
Administrative Hearing Commission
Office of the State Treasurer
Jeanne Jarrett, CPA
Director
February 7, 1998