SJR 029 - Fiscal Note

Fiscal Note - SJR 029 - Allows Revenue Bonds For Sewer Projects

L.R. NO.  1961-03
BILL NO.  Truly Agreed To And Finally Passed SJR 29
SUBJECT:  Constitutional Amendments: Bond Authority
TYPE:     Original
DATE:     May 1, 1996



                              FISCAL SUMMARY

                    ESTIMATED NET EFFECT ON STATE FUNDS

FUND AFFECTED               FY 1997         FY 1998         FY 1999

General Revenue           ($22,900)              $0              $0

Total Estimated
Net Effect on All
State Funds               ($22,900)              $0              $0


                   ESTIMATED NET EFFECT ON FEDERAL FUNDS

FUND AFFECTED               FY 1997         FY 1998         FY 1999

None

Total Estimated
Net Effect on All
Federal Funds                    $0              $0              $0


                    ESTIMATED NET EFFECT ON LOCAL FUNDS

FUND AFFECTED               FY 1996         FY 1997         FY 1998

Local Government                 $0              $0              $0


                              FISCAL ANALYSIS

ASSUMPTION

Officials of the Department of Economic Development's Public Service
Commission and Office of Public Counsel would not expect the proposal to have
any effect on their budgets.

Advertisement costs for the proposal would be $1,220 per newspaper column
inch for the text of the proposal, the introduction, title, fiscal note
summary, and affidavit.  The proposal would be on the ballot for the November
1996 general election.


FISCAL IMPACT - State Government      FY 1997   FY 1998   FY 1999

GENERAL REVENUE FUND

Cost-Secretary of State
  Newspaper Advertisements          ($22,900)         0         0


FISCAL IMPACT - Local Government      FY 1997   FY 1998   FY 1999


                                            0         0         0


DESCRIPTION

This proposal would add revenue producing sewage treatment plants to the list
of projects for which municipalities or joint boards or commissions may issue
revenue bonds and would remove water works from the list of revenue-producing
entities which must be regulated as public utilities by the Public Service
Commission in order to be constructed or improved by municipalities or joint
boards or commissions.

This legislation is not federally mandated, would not duplicate any other
program and would not require additional capital improvements or rental
space.


SOURCES OF INFORMATION

Department of Economic Development - Public Service Commission; Office of
    Public Counsel
Secretary of State