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F I S C A L I M P A C T R E P O R T

SPONSOR Beffort

DATE TYPED 3/07/05

HB

SHORT TITLE Trust Industry as Economic Development

SB SM 8

ANALYST Ford

APPROPRIATION

Appropriation Contained Estimated Additional Impact Recurring

or Non-Rec

Fund

Affected

FY05

FY06

FY05

FY06

NFI

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC Files

Responses Received From

Economic Development Department (EDD)

Regulation and Licensing Department (RLD)

SUMMARY

Synopsis of Bill

Senate Memorial 8 makes findings related to the economic development potential of the trust

industry, which includes investment management companies, estate planning attorneys and trust

administration companies, and resolves that the Senate support the promotion of the trust indus-

try.

FISCAL IMPLICATIONS

The memorial has no fiscal impact to the state.

EF/lg