COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:5428H.01I Bill No.:HB 2604 Subject:Property, Real and Personal; Political Subdivisions; County Government; Notary
Public
Type:Original Date:February 19, 2024Bill Summary:This proposal establishes the "Uniform Real Property Electronic Recording
Act".
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND AFFECTEDFY 2025FY 2026FY 2027Total Estimated Net
Effect on General
Revenue $0$0$0
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND AFFECTEDFY 2025FY 2026FY 2027Total Estimated Net
Effect on Other State
Funds $0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 5428H.01I
Bill No. HB 2604
Page 2 of
February 19, 2024
NM:LR:OD
ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND AFFECTEDFY 2025FY 2026FY 2027Total Estimated Net
Effect on All Federal
Funds $0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND AFFECTEDFY 2025FY 2026FY 2027Total Estimated Net
Effect on FTE 000
☐ Estimated Net Effect (expenditures or reduced revenues) expected to exceed $250,000 in any
of the three fiscal years after implementation of the act or at full implementation of the act.
☐ Estimated Net Effect (savings or increased revenues) expected to exceed $250,000 in any of
the three fiscal years after implementation of the act or at full implementation of the act.
ESTIMATED NET EFFECT ON LOCAL FUNDSFUND AFFECTEDFY 2025FY 2026FY 2027Local Government$0$0$0 L.R. No. 5428H.01I
Bill No. HB 2604
Page 3 of
February 19, 2024
NM:LR:OD
FISCAL ANALYSIS
ASSUMPTION
§§59.900, 59.903, 59.906, 59.909 & 59.912 – Uniform Real Property Electronic Recording Act
Officials from the State Tax Commission, the Missouri Senate, the Department of Commerce
and Insurance and the Office of the Governor each assume the proposal will have no fiscal
impact on their respective organizations.
Officials from the Attorney General’s Office did not respond to Oversight’s request for fiscal
impact for this proposal.
Oversight does not have any information to the contrary. Therefore, Oversight will reflect a zero
impact in the fiscal note for these agencies. Oversight notes the provision of this proposal will
become effective on January 1, 2025. As the proposal is silent to the matter, Oversight assumes
members of the new Electronic Recording Commission will not be paid for their services and
will not be reimbursed for their expenses.
Oversight only reflects the responses received from state agencies and political subdivisions;
however, other counties and county recorders were requested to respond to this proposed
legislation but did not. A listing of political subdivisions included in the Missouri Legislative
Information System (MOLIS) database is available upon request.
FISCAL IMPACT – State GovernmentFY 2025
(10 Mo.)
FY 2026FY 2027$0$0$0FISCAL IMPACT – Local GovernmentFY 2025
(10 Mo.)
FY 2026FY 2027$0$0$0
FISCAL IMPACT – Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal. L.R. No. 5428H.01I
Bill No. HB 2604
Page 4 of
February 19, 2024
NM:LR:OD
FISCAL DESCRIPTION
The proposed legislation appears to have no direct fiscal impact.
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
State Tax Commission
Missouri Senate
Department of Commerce and Insurance
Office of the Governor
NOT RESPONDING
Attorney General’s Office
Julie MorffRoss StropeDirectorAssistant DirectorFebruary 19, 2024February 19, 2024