This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SJR 019 - Establishes the "Tobacco Settlement Trust Fund"
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO. 0928-02
BILL NO. SJR 19
SUBJECT: Constitutional Amendments: Health Care; Tobacco Products
TYPE: Original
DATE: February 12, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| General Revenue | $0 | ($39,900) | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | ($39,900) | $0 |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | |||
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of social Services, Department of Health, Department of Mental Health, Department of Revenue, Office of Administration, and Office of the Treasurer assume the proposed legislation would have no fiscal impact on their agencies or that they could accomplish duties under this proposal with existing resources.
Advertisement costs for the proposal would be $3,990 per newspaper column inch for three publications of the text of the proposal, the introduction, title, fiscal note summary, and affidavit. The proposal would be on the ballot for the November 2000 general election.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| GENERAL REVENUE FUND | |||
| Cost-Secretary of State | |||
| Newspaper Advertisements | $0 | ($39,900) | $0 |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| $0 | $0 | $0 | |
| FISCAL IMPACT - Small Business | |||
| No direct fiscal impact to small businesses would be expected as a result of this proposal. | |||
DESCRIPTION
This proposal would establish the "Tobacco Settlement Trust Fund." Any funds received by the state of Missouri as a result of any tobacco-related legal settlement or award would be deposited in the Fund and held there forever. Interest earned by the Fund could be appropriated for children's health programs. Fund principal could be used if the emergency conditions specified in Article X, Section 19, of the Missouri Constitution were met.
Monies deposited in the Fund and interest earned would not be considered part of "total state revenues" as defined in section 17 of article X of the state constitution.
DESCRIPTION (continued)
This legislation is not federally mandated, would not duplicate any other program, would not require additional capital improvements or rental space, and would not affect total state revenue.
SOURCES OF INFORMATION
Department of Health
Department of Mental Health
Department of Revenue
Department of Social Services
Office of Administration - Division of Accounting
Secretary of State
State Treasurer
Jeanne Jarrett, CPA
Director
February 12, 1999