COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.:0676S.04P Bill No.:Perfected SS for SCS for SB 97 Subject:Banks and Financial Institutions Type:Original Date:February 19, 2025Bill Summary:This proposal modifies various provisions relating to banks and trust
companies.
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. 0676S.04P
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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. 0676S.04P
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FISCAL ANALYSIS
ASSUMPTION
§427.300 – Commercial Financing Disclosure Law
In response to a similar proposal from 2024 (SB 753), officials from the Department of
Commerce and Insurance (DCI) stated there are very few companies that provide the types of
commercial financing products described in this section, though the Division of Finance (DOF)
does not have an exact number. When California passed something similar, they had two
companies; DOF assumes Missouri will have less than five. The initial registration would be set
at $100 each, so up to $500 total revenue in the first year. If all of the companies renewed
annually, at $50 each, subsequent years' revenue would be $250. The registration process is not
work-intensive and would cost about $36.53 to process (½ hour for an AOSA @$19.91/hour + ½
hour for an Examiner @ $53.15/hour = $36.53). For five registrations, each year would cost
$182.61. Since there is no review or enforcement authority granted in the language, that is the
extent of the fiscal impact.
FY 2024 FY 2025 FY 2026
Revenue $0-$500 $0-$250 $0-250
Expense ($183-$0) ($186-$0) ($190-$0)
Net Effect $0-$317 $0-$64 $0-$60
Oversight assumes these amounts are not material and will not reflect them in the fiscal note.
In response to a similar proposal from 2023 (SB 187), officials from the Attorney General’s
Office (AGO) assumed no fiscal impact from the proposal.
§§362.020, 362.247, 362.275, 362.295, 362.490, and 447.200
In response to a previous version, officials from the Department of Commerce and Insurance
the Department of Corrections, the Department of Public Safety - Missouri Highway Patrol,
the Office of the State Public Defender Missouri Office of Prosecution Services and
Kansas City each assumed the proposal will have no fiscal impact on their organization.
Upon further inquiry, per the DCI -Division of Finance, there will be no impact to the division
of finance and this will not create or lessen what goes to unclaimed property.
In response to a previous version, officials from the Office of the State Courts Administrator
assumed 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. L.R. No. 0676S.04P
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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
Allowing certain banks and trust companies to issue additional shares of capital stock under
certain conditions could have a fiscal impact on small businesses 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. 0676S.04P
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SOURCES OF INFORMATION
Department of Commerce and Insurance
Department of Corrections
Department of Public Safety - Missouri Highway Patrol
Office of the State Public Defender
Missouri Office of Prosecution Services
Office of the State Courts Administrator
Kansas City
Julie MorffJessica HarrisDirectorAssistant DirectorFebruary 19, 2025February 19, 2025