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 0460 - Revises MOSTARS Higher Education Savings Program
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 1588-04
BILL NO.: Truly Agreed To And Finally Passed SB 460
SUBJECT: Education, Higher: Savings Program
TYPE: Original
DATE: April 23, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | $0 | $0 | $0 |
| 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 | $0 | $0 | $0 |
| 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 State Treasurer's Office, Office of Administration, Department of Economic Development-Division of Job Development and Training, Harris-Stowe State College, Missouri Western State College and Linn State Technical College assume the proposal would result in no fiscal impact to the agencies.
Officials from the Coordinating Board For Higher Education (CBHE) assume the changes in the proposal are technical corrections to ensure the plan's compliance with Internal Revenue Service regulations. These changes do not substantively change the existing statute or operation of the program. Therefore, no fiscal impact would result.
| 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 proposal would change the name of the MOSTARS Higher Education Savings Program to the Missouri Higher Education Savings Program. The proposal would also make technical revisions to the program to comply with the Internal Revenue Service.
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
Coordinating Board For Higher Education
State Treasurer's Office
Office of Administration
Department of Economic Development-Division of Job Development and Training
Harris-Stowe State College
Missouri Western State College
Linn State Technical College
NOT RESPONDING: Department of Revenue
Jeanne Jarrett, CPA
Director
April 23, 1999