COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:2126S.01I Bill No.:SB 566 Subject:Business and Commerce; Department of Economic Development; Veterans Type:Original Date:March 25, 2025Bill Summary:This proposal modifies provisions relating to certain veteran-owned small
businesses.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUNDFUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on General
Revenue $0$0$0
ESTIMATED NET EFFECT ON OTHER STATE FUNDSFUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on Other State
Funds $0$0$0
Numbers within parentheses: () indicate costs or losses. L.R. No. 2126S.01I
Bill No. SB 566
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ESTIMATED NET EFFECT ON FEDERAL FUNDSFUND AFFECTEDFY 2026FY 2027FY 2028Total Estimated Net
Effect on All Federal
Funds $0$0$0
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE)FUND AFFECTEDFY 2026FY 2027FY 2028Total 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 2026FY 2027FY 2028Local Government$0$0$0 L.R. No. 2126S.01I
Bill No. SB 566
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FISCAL ANALYSIS
ASSUMPTION
§620.3250 - Boots to Business Program
Officials from the Office of Administration – Budget & Planning, the
Economic Development Department of Higher Education and Workforce
Development, the Department of Public Safety – Director’s
OfficeDepartment of Public Safety – Veterans Commission, and the
Treasurer each assume the proposal will have no fiscal impact on their organization. Oversight
does not have any information to the contrary. Therefore, Oversight will reflect a zero impact in
the fiscal note for these agencies.
For informational purposes, Oversight has provided the number of linked deposits approved to
veteran-owned businesses according to the Office of the State Treasurer website (Linked Deposit
Annual Reports) for the MO BUCKS program.
Program
Year
Participants /
Veterans
Total
Amount
Average
Loan amount
per
participant
202415$8,347,901$556,527202327$12,561,025$465,22320225$5,595,779$1,119,15520215$1,729,603$345,921
Oversight notes current law requires any veteran who receives a small business loan through the
State Treasurer's linked deposit program to complete a boots-to-business program approved by
the Department of Economic Development. This proposal makes participation in such program
optional. Oversight notes that the Small Business Administration (SBA) offers the Boots to
Business program at no cost for all veterans who provide a valid Department of Defense I.D.
Therefore, Oversight will reflect a zero impact in the fiscal note.
Rule Promulgation
Officials from the Joint Committee on Administrative Rules assume this proposal is not
anticipated to cause a fiscal impact beyond its current appropriation.
Officials from the Office of the Secretary of State (SOS) note many bills considered by the
General Assembly include provisions allowing or requiring agencies to submit rules and
regulations to implement the act. The SOS is provided with core funding to handle a certain
amount of normal activity resulting from each year's legislative session. The fiscal impact for L.R. No. 2126S.01I
Bill No. SB 566
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this fiscal note to the SOS for Administrative Rules is less than $5,000. The SOS recognizes that
this is a small amount and does not expect that additional funding would be required to meet
these costs. However, the SOS also recognizes that many such bills may be passed by the
General Assembly in a given year and that collectively the costs may be in excess of what the
office can sustain with its core budget. Therefore, the SOS reserves the right to request funding
for the cost of supporting administrative rules requirements should the need arise based on a
review of the finally approved bills signed by the governor.
FISCAL IMPACT – State GovernmentFY 2026
(10 Mo.)
FY 2027FY 2028$0$0$0FISCAL IMPACT – Local GovernmentFY 2026
(10 Mo.)
FY 2027FY 2028$0$0$0
FISCAL IMPACT – Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
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. L.R. No. 2126S.01I
Bill No. SB 566
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SOURCES OF INFORMATION
Office of Administration – Budget & Planning
Department of Economic Development
Department of Higher Education and Workforce Development
Department of Revenue
Department of Public Safety – Director’s Office
Department of Public Safety – Veterans Commission
Office of the State Treasurer
Office of the Secretary of State
Joint Committee on Administrative Rules
Julie MorffJessica HarrisDirectorAssistant DirectorMarch 25, 2025March 25, 2025