Colorado Legislative Council Staff

LOCAL

REVISED FISCAL NOTE

(replaces Fiscal Note dated January 8, 1998)

No State General Fund Impact

Local Government Expenditure Impact

TITLE:            CONCERNING AN INCREASE IN COMPENSATION FOR PUBLIC TRUSTEES, AND, IN CONNECTION THEREWITH, INCREASING PUBLIC TRUSTEE’S SALARIES.

Summary of Legislation

            This reengrossed bill revises the salaries for public trustees whose terms begin on or after the effective date of the bill. Those salary revisions include:

            •   counties of the first and second class - from $26,000 per annum to $32,000 per annum for full-time public trustees; and

            •   counties of the third class - from $6,500 per annum to $8,000 per annum.

Current law requires these salaries to be paid from the fees collected by the public trustees. The bill will become effective upon the signature of the Governor.

            The bill will not affect state revenue or expenditures. The bill will affect local government expenditures. Therefore, the bill is assessed as having a local government fiscal impact.

Local Government Impact

            The bill increases the salary of full-time public trustees in counties of the first and second class from $26,000 to $32,000 per annum for an increase of $6,000 per annum. The bill also increases the salary of public trustees in third class counties from $6,500 to $8,000 per annum for an increase of $1,500 per annum. Current law specifies these salaries are to be paid by the fees collected by the public trustee.

Spending Authority

            This fiscal note would imply that no new state spending authority or appropriations are required for FY 1998-99 to implement the provisions of this bill.

Departments Contacted

            Local Affairs