COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0540-07
Bill No.: Truly Agreed To and Finally Passed HCS for SS for SCS for SB 320
Subject: Agriculture Dept.; Education, Higher; Veterinarians
Type: Original
Date: June 5, 2007
Bill Summary: Creates the Large Animal Veterinary Student Loan Program and modifies the Large Animal Medicine Loan Repayment Program.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUND |
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FUND AFFECTED |
FY 2008 |
FY 2009 |
FY 2010 |
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Total Estimated Net Effect on General Revenue Fund |
$0 |
$0 |
$0 |
ESTIMATED NET EFFECT ON OTHER STATE FUNDS |
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FUND AFFECTED |
FY 2008 |
FY 2009 |
FY 2010 |
Veterinary Student Loan Payment Fund |
$0 |
$0 |
$0 |
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Total Estimated Net Effect on Other State Funds* |
$0 |
$0 |
$0 |
*Net of Revenues and Expenditures
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 5 pages.
ESTIMATED NET EFFECT ON FEDERAL FUNDS |
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FUND AFFECTED |
FY 2008 |
FY 2009 |
FY 2010 |
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Total Estimated Net Effect on All Federal Funds |
$0 |
$0 |
$0 |
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE) |
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FUND AFFECTED |
FY 2008 |
FY 2009 |
FY 2010 |
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Total Estimated Net Effect on FTE |
0 |
0 |
0 |
☐ Estimated Total Net Effect on All funds expected to exceed $100,000 savings or (cost).
☐ Estimated Net Effect on General Revenue Fund expected to exceed $100,000 (cost).
ESTIMATED NET EFFECT ON LOCAL FUNDS |
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FUND AFFECTED |
FY 2008 |
FY 2009 |
FY 2010 |
Local Government |
$0 |
$0 |
$0 |
FISCAL ANALYSIS
ASSUMPTION
Officials from the Coordinating Board for Higher Education assume no fiscal impact to their agency.
Officials from the University of Missouri - Columbia would incur no additional costs as a result of the passage of this proposal.
Officials from the Department of Agriculture (AGR) assume this proposal would require AGR to implement and maintain the large animal veterinary student loan program. It will require resources from the AGR to implement. Overall increasing the number of large animal veterinarians in the state is will significantly improve the surveillance of the AGR.
It is assumed that current personnel will be able to implement the program. The AGR estimated administration costs to be $10,000. This figure includes administrative supplies, hosting advisory council meetings, and associated travel.
All cost will be paid through the fund created in this proposal. Therefore there will be no direct impact on general revenue.
Officials from the State Treasurer's Office assume that they only ensure the disbursements are made from a lawful appropriation and don't exceed the amount of the appropriation. They suggest the following wording change: "The state treasurer shall be custodian of the fund. In accordance with sections 30.1.170 and 30.180 RSMo., the state treasurer may approve disbursements".
FISCAL IMPACT - State Government |
FY 2008 (10 Mo.) |
FY 2009 |
FY 2010 |
VETERINARY STUDENT LOAN PAYMENT FUND |
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Revenue - Voluntary Contributions, Various Contributions, etc. |
Unknown |
Unknown |
Unknown |
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Expenses - Student Loans, Administration of Fund, etc. |
(Unknown) |
(Unknown) |
(Unknown) |
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ESTIMATED NET EFFECT ON VETERINARY STUDENT LOAN PAYMENT FUND |
$0 |
$0 |
$0 |
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FISCAL IMPACT - Local Government |
FY 2008 (10 Mo.) |
FY 2009 |
FY 2010 |
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$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 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
Department of Agriculture
Coordinating Board for Higher Education
State Treasurer's Office
University of Missouri - Columbia
Mickey Wilson, CPA
Director
June 5, 2007