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 0029 - Revises the statute of limitations for home improvements
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 0632-01
BILL NO.: Perfected SB 29
SUBJECT: Civil procedure; contracts and contractors.
TYPE: Original
DATE: April 8, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | |||
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | |||
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| 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 Transportation assume the proposed legislation may increase the incidence and cost of construction-related litigation and judgements; however, the long-range fiscal impact of the bill on the Department of Transportation is impossible to predict. They do not expect the fiscal impact to be significant.
The Office of the State Courts Administrator, the Office of the Attorney General, the Department of Economic Development, and the Office of Administration assume the proposed legislation would have no fiscal impact on their agencies.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| 0 | 0 | 0 | |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| (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
The proposed legislation defines 'substantially completed' as the commencement date to recover damages for economic loss, personal injury, property damage or wrongful death arising out of a defective or unsafe condition of any improvement to real property.
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 State Courts Administrator
Office of the Attorney General
Office of Administration
Department of Economic Development
Department of Transportation
Jeanne Jarrett, CPA
Director
April 8, 1999