SS SCS SB 944 -- BOND REGISTRATION FEES

SPONSOR:  Engler (Robb)

COMMITTEE ACTION:  Voted "do pass" by the Special Committee on
Financial Institutions by a vote of 8 to 0.

Currently, the State Auditor is paid 10 cents for each $100 of
the face value of bonds registered.  This substitute limits the
total fee to no more than $1,000.

The substitute contains an emergency clause.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of Unknown
Greater than $500,000 in FY 2009, FY 2010, and FY 2011.  No
impact on Other State Funds in FY 2009, FY 2010, and FY 2011.

PROPONENTS:  Supporters say that the bill will save school
districts a lot of money.  Recently, one district has had $213
million in bonds registered costing them $213,000.  It does not
make sense to charge schools this much money to register bonds.

Testifying for the bill were Senator Engler; Missouri School
Boards Association; and George K. Baum.

OPPONENTS:  There was no opposition voiced to the committee.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:13 pm