COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 3691-01
BILL NO.: SB 859
SUBJECT: Changes Beneficiary Designations
TYPE: Original
DATE: January 27, 2000
FISCAL SUMMARY
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
None | |||
Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
None | |||
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 2 pages.
ASSUMPTION
Officials from the Office of State Courts Administrator, Department of Economic Development - Division of Finance and Department of Insurance assume that this proposal will not fiscally affect their agencies.
FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
$0 | $0 | $0 |
FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
$0 | $0 | $0 |
FISCAL IMPACT - Small Business
If small businesses would have to modify existing beneficiary designations on various legal documents, the fiscal impact would be expected to be minimal.
DESCRIPTION
This proposal clarifies that the provisions of Section 461.051 only apply to beneficiary designations made after the August 28,1989 initial effective date of the section.
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 Economic Development - Division of Finance
Department of Insurance
Office of State Courts Administrator
Jeanne Jarrett, CPA
Director
January 27, 2000