SB 0871 - Fiscal Note

Fiscal Note - SB 0871 - Creates crime of financial exploitation of the elderly

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO. 3744-02

BILL NO. Perfected SCS for SB 871

SUBJECT: Crimes and Punishment; Elderly; Banks and financial institutions

TYPE: Original

DATE: April 22, 1998

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FISCAL SUMMARY

ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
None
Total Estimated Net Effect on All State Funds	$0	$0	$0

ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
None
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 of the Office of State Courts Administrator, the Department of Corrections, and the Department of Social Services assume this proposal would have no fiscal impact on their agencies.

In response to similar legislation, officials from the Office of Prosecution Services and the Office of the Attorney General assumed the proposal would have no fiscal impact on their agencies.

Officials from the Office of the State Public Defender (SPD) assume existing staff could provide representation for those 20 to 30 cases that might arise as a result of the proposal. However, passage of more than one similar proposal could require the SPD to request increased appropriations to cover the cumulative cost of representing the indigent accused.

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

This proposal creates the crime of financial exploitation of the elderly. The crime is a class A misdemeanor if the property or money converted has a value of $150 or less, and is a Class D felony if the value is over $150. Employees of financial institutions have a duty to report financial exploitation to the Department of Social Services. Individuals who cooperate with such investigations (except those guilty of financial exploitation) are immune from civil and criminal liability.

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 State Courts Administrator

Office of the Attorney General

Office of Prosecution Services

Office of the State Public Defender

Department of Social Services

Department of Corrections

Jeanne Jarrett, CPA

Director

April 22, 1998