This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SJR 037 - Majority Vote for Tax Rate Increases
L.R. NO. 3529-01
BILL NO. SJR 37
SUBJECT: Constitutional Amendment: Property Tax
TYPE: Original
DATE: February 29, 1996
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
General Revenue ($25,300) $0 $0
Total Estimated
Net Effect on All
State Funds ($25,300) $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
The proposal would make passage of tax increases easier, but would have no
direct effect on any sources of income for municipalities, counties or school
districts.
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
Cost to General Revenue Fund
Secretary of State
Newspaper Advertisements ($25,300)
FISCAL IMPACT - Local Government FY 1997 FY 1998 FY 1999
$0 $0 $0
DESCRIPTION
This proposal would allow cities, counties and school districts to increase
property taxes with simple majority approval of voters. Currently, increases
require a two-thirds majority.
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
Secretary of State