SB 0321 - Fiscal Note

Fiscal Note - SB 0321 - Trustee cannot use trust to meet trustee's personal obligation to beneficiary

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO.: 1268-01

BILL NO.: Truly Agreed and Finally Passed SB 321

SUBJECT: Estates, wills and trusts, liability.

TYPE: Original

DATE: April 22, 1999

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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 2 pages.

FISCAL ANALYSIS

ASSUMPTION

The Office of the State Courts Administrator and the Office of the Attorney General 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

This proposal prohibits distributions which satisfy legal support obligations or which exceed normal support needs of a trustee.

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

Jeanne Jarrett, CPA

Director

April 22, 1999