COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 5135-01
Bill No.: SB 626
Subject: Civil Procedure; Liability
Type: Original
Date: January 20, 2012
Bill Summary: This proposal restricts the time to file a products liability claim and when a manufacturer or seller of a product may be liable.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUND |
|||
FUND AFFECTED |
FY 2013 |
FY 2014 |
FY 2015 |
|
|
|
|
|
|
|
|
Total Estimated Net Effect on General Revenue Fund |
$0 |
$0 |
$0 |
ESTIMATED NET EFFECT ON OTHER STATE FUNDS |
|||
FUND AFFECTED |
FY 2013 |
FY 2014 |
FY 2015 |
|
|
|
|
|
|
|
|
Total Estimated Net Effect on Other State Funds |
$0 |
$0 |
$0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
ESTIMATED NET EFFECT ON FEDERAL FUNDS |
|||
FUND AFFECTED |
FY 2013 |
FY 2014 |
FY 2015 |
|
|
|
|
|
|
|
|
Total Estimated Net Effect on All Federal Funds |
$0 |
$0 |
$0 |
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE) |
|||
FUND AFFECTED |
FY 2013 |
FY 2014 |
FY 2015 |
|
|
|
|
|
|
|
|
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 |
|||
FUND AFFECTED |
FY 2013 |
FY 2014 |
FY 2015 |
Local Government |
$0 |
$0 |
$0 |
FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Insurance, Financial Institutions and Professional Registration and Office of the State Courts Administrator each assume the proposal will have no fiscal impact on their respective organizations.
Officials from the Attorney General’s Office assume any potential cost arising from this proposal can be absorbed with existing resources.
FISCAL IMPACT - State Government |
FY 2013 (10 Mo.) |
FY 2014 |
FY 2015 |
|
|
|
|
|
|
|
|
|
$0 |
$0 |
$0 |
|
|
|
|
|
|
|
|
FISCAL IMPACT - Local Government |
FY 2013 (10 Mo.) |
FY 2014 |
FY 2015 |
|
|
|
|
|
$0 |
$0 |
$0 |
FISCAL IMPACT - Small Business
The proposal could create some level of liability protection for certain small businesses.
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 Insurance, Financial Institutions and Professional Registration
Office of the State Courts Administrator
Attorney General’s Office
Mickey Wilson, CPA
Director
January 20, 2012