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 - SB 0315 - Allows conveyance of state property to the City of Farmington
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 1081-02
BILL NO.: Perfected SB 315
SUBJECT: Easements; City of Farmington
TYPE: Original
DATE: February 17, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| General Revenue | $6,064 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$6,064 | $0 | $0 |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | $0 | $0 | $0 |
| 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 | ($6,064) | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials from the City of Farmington assume the proposed legislation would not fiscally impact their city. The land referenced is a very small piece of land next to Farmington's industrial development area. This land would also be used for industrial development. Any increase in tax revenues generated as result of acquiring the parcel would be negligible.
Officials from the Office of Administration (COA) assume that general revenue would have a one-time revenue increase of $6,064 in FY 00. The amount of estimated revenue was based on the approximate per acre value of $200.00 as provided by the St. Francois County Assessors Office. Total acres identified in the proposal is 30.32 acres; at $200 per acre the estimated revenue would be equal to $6,064.
The Attorney General's Office assume this proposal would not fiscally impact their agency.
Oversight assumes that consideration will be negotiated between the parties and will be approximately the value of the land.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| GENERAL REVENUE FUND | |||
| Income | |||
| Conveyance of land | $6,064 | $0 | $0 |
|
ESTIMATED NET EFFECT TO | |||
| GENERAL REVENUE FUND | $6,064 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| CITY OF FARMINGTON | |||
| Cost - Receipt of land | ($6,064) | $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 allows the conveyance of state property to the City of Farmington. Consideration for the conveyance shall be as negotiated by the State and the City of Farmington.
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
City of Farmington
Office of Administration
Attorney General's Office
Jeanne Jarrett, CPA
Director
February 17, 1999