State Fiscal Highlights
· No direct fiscal effect on the state.
Local Fiscal Highlights
· No direct fiscal effect on political subdivisions.
Detailed Fiscal Analysis
The bill makes numerous revisions to the Uniform Commercial Code that were recommended by the National Conference of Commissioners on Uniform State Laws. These changes have been adopted by 35 other states and pertain to a wide variety of business transactions governed by requirements in the Uniform Commercial Code. The LSC bill analysis provides a detailed explanation of these changes. The changes do not affect revenues or expenditures of the state or its political subdivisions.