COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. No.:         4054-01

Bill No.:          Perfected SB 636

Subject:           Estates, Wills and Trust; Marriage and Divorce

Type:              Original

Date:               March 27, 2012

Bill Summary:            This proposal modifies the requirements for a spousal trust to include both property held in one trust for both spouses and property held in two separate shares.

FISCAL SUMMARY

Numbers within parentheses: ( ) indicate costs or losses.

This fiscal note contains 4 pages.

☐ 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).

FISCAL ANALYSIS

ASSUMPTION

Officials from the Office of the State Courts Administrator and Department of Insurance, Financial Institutions and Professional Registration each assume the proposal will have no fiscal impact on their respective organizations.

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

Office of the State Courts Administrator

Department of Insurance, Financial Institutions and Professional Registration