COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0324-01
Bill No.: Perfected SB 93
Subject: Taxation and Revenue - Sales and Use; Counties; Cities; Villages and Towns
Type: Original
Date: April 1, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| General Revenue* | (Unknown) | (Unknown) | (Unknown) |
| Total Estimated
Net Effect on General Revenue Fund |
(UNKNOWN) | (UNKNOWN) | (UNKNOWN) |
*Not expected to exceed $100,000 annually.
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| School District Trust* | (Unknown) | (Unknown) | (Unknown) |
| Conservation* | (Unknown) | (Unknown) | (Unknown) |
| Parks and Soil* | (Unknown) | (Unknown) | (Unknown) |
| Highway Funds* | (Unknown) | (Unknown) | (Unknown) |
| Total Estimated
Net Effect on Other State Funds |
(UNKNOWN) | (UNKNOWN) | (UNKNOWN) |
*Not expected to exceed $100,000 annually.
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Local Government* | (UNKNOWN) | (UNKNOWN) | (UNKNOWN) |
*Not expected to exceed $100,000 annually.
ASSUMPTION
Officials of the Department of Revenue state this proposed legislation will have no administrative impact on their agency.
Officials of the Office of Administration - Division of Budget and Planning (BAP) assume this proposal allows a sales tax exemption on tangible personal property and on all items turned into tangible personal property that are donated to the state of Missouri. BAP has no empirical basis for estimating the fiscal impact of this proposal. This proposal would have no impact on BAP.
Oversight assumes, for purposes of this fiscal note, that there would be an unknown revenue loss to all state and local funds, but the amount of the loss is expected to be less than $100,000 annually to any one fund.
This legislation could decrease Total State Revenue.
| FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| GENERAL REVENUE FUND | |||
| Loss to General Revenue Fund | |||
| Sales tax exemption* | (Unknown) | (Unknown) | (Unknown) |
| ESTIMATED NET EFFECT ON
GENERAL REVENUE FUND |
(UNKNOWN) |
(UNKNOWN) |
(UNKNOWN) |
| OTHER STATE FUNDS | |||
|
Loss to School District Trust Fund |
|||
| Sales tax exemption* | (Unknown) | (Unknown) | (Unknown) |
|
Loss to Conservation Fund |
|||
| Sales tax exemption* | (Unknown) | (Unknown) | (Unknown) |
| Loss to Parks and Soil Funds | |||
| Sales tax exemption* | (Unknown) | (Unknown) | (Unknown) |
| Loss to Highway Funds | |||
| Sales tax exemption* | (Unknown) | (Unknown) | (Unknown) |
|
ESTIMATED NET EFFECT TO ALL OTHER STATE FUNDS |
(UNKNOWN) |
(UNKNOWN) |
(UNKNOWN) |
|
|
| FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| Loss to Cities
Sales tax exemption* |
(Unknown) |
(Unknown) |
(Unknown) |
| Loss to Counties
Sales tax exemption* |
(Unknown) |
(Unknown) |
(Unknown) |
| ESTIMATED NET EFFECT TO
LOCAL GOVERNMENT |
(UNKNOWN) |
(UNKNOWN) |
(UNKNOWN) |
*Not expected to exceed $100,000 annually.
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal exempts all purchases of tangible personal property and all items converted into tangible personal property which are donated to the State of Missouri from state and local sales and use taxes.
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 Revenue
Office of Administration
Division of Budget and Planning
Mickey Wilson, CPA
Director
April 1, 2003