John S O'Brien, Director, Legislative Budget Board
IN RE:
SB583 by Nichols (Relating to the criminal penalty for failure of a trustee to pay the beneficiaries of the trust the purchase price for timber sold by the trustee.), As Introduced
No significant fiscal implication to the State is anticipated.
The bill would amend the Natural Resources Code as it relates to failure of a trustee to pay the beneficiaries of the trust the purchase price for timber sold by the trustee. Under current statute, the offense identified in the bill is punishable as a state jail felony. Under the provisions of the bill, punishment options would increase in severity based on the value of the timber sold. The offense would be punishable as a state jail felony if it is shown at the trial of the offense that the value of the timber sold is at least $500 but less than $20,000; punishable as a third degree felony if it is shown at the trial of the offense that the value of the timber sold is at least $20,000 but less than $100,000; punishable as a second degree felony if it is shown at the trial of the offense that the value of the timber sold is at least $100,000 but less than $200,000; and punishable as a first degree felony if it is shown at the trial of the offense that the value of the timber sold is at least $200,000.
The bill would take effect September 1, 2011 and apply only to an offense committed on or after the effective date of the Act. It is assumed that the number of persons convicted under this statute would not result in a significant impact on the programs and workload of state corrections agencies.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.