COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 3546-01
BILL NO.: SB 841
SUBJECT: Motor Vehicles; Speed Limit Reduction
TYPE: Original
DATE: January 31, 2000
FISCAL SUMMARY
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
Highway Road Fund | ($195,724) | $0 | $0 |
Total Estimated
Net Effect on All State Funds |
($195,724) | $0 | $0 |
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
None | $0 | $0 | $0 |
Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the Department of Revenue and the Missouri Highway Patrol assume this proposal would not fiscally impact their agencies.
Officials from the Department of Transportation (MoDOT) assume this proposal would result in increased costs for road signs and posts on Missouri roadways. Separate road signs will need to be created and installed to identify the speed limits for the trucks impacted by this legislation. It is estimated that an additional 633 signs would be needed, at an average cost of $309.20 per sign, for a total anticipated cost of $195,724 in FY01.
Oversight notes that funds from fines are to be distributed pursuant to the provisions of Section 7 of Article IX of the Missouri Constitution (School Districts). Any increase in fines collected will be offset by a corresponding decrease in the foundation formula distributions. Therefore, Oversight has shown a zero fiscal impact for this proposal.
FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
HIGHWAY ROAD FUND | |||
Costs - Road signs and posts | ($195,724) | $0 | $0 |
FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
$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 restricts trucks (registered over 24,000 pounds) to 65 mph on the rural interstates and freeways and restricts them to the right hand lane except under certain conditions. This act has penalty provisions. An operator of a truck exceeding a speed of 70 mph shall be fined $1000.
This act is similar to SB 652 (2000).
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 Revenue
Missouri Highway Patrol
Department of Transportation
Jeanne Jarrett, CPA
Director
January 31, 2000