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Fiscal Note

HB0305 - Judgment Lien Amendments

State Impact:
There is a potential loss to the General Fund of $103,800 annually resulting from a reduction in court filing fees. If delays result from the shift in liens to the county recorder there could be additional losses of state revenue. Some State agencies may see increased costs in filing liens in counties that cannot accommodate electronic filing. Additional funds would also be required to pay filing fees to the county recorders office which are currently not paid to the courts. Therefore, General Fund appropriations of $131,200 to the Tax Commission and $1,304,000 to the Office of Recovery Services would be required to implement the provisions of the bill. An additional appropriation of $196,900 Uniform School Fund to the Tax Commission is also necessary. The Office of Recovery Services and the Department of Workforce Services would also need an appropriation of $1,970,000 and $275,000 respectively from federal funds.

Funding Source FY 02
Approp.
FY 03
Approp.
FY 02
Revenue
FY 03
Revenue
General Fund $1,435,200 $1,435,200 ($103,800) ($103,800)
Uniform School Fund $196,900 $196,900 $0 $0
Federal Funds $2,245,000 $2,245,000 $0 $0
TOTAL

$3,877,100


$3,877,100


($103,800)


($103,800)

Individual and Business Impact:
Passage of this bill would result in cost savings to title companies resulting from the time savings on research related to liens on property.

Office of the Legislative Fiscal Analyst
2/20/2001 6:32:21 PM


Last Revised: 30 August, 2000

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