COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0328-01
Bill No.: SB 52
Subject: Taxation and Revenue - Income; Arts and Humanities; Libraries and Archives; Entertainers and Sports
Type: Original
Date: January 22, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 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 | $0 | $0 | $0 |
ASSUMPTION
Officials of the Department of Higher Education, the Department of Revenue and the Department of Economic Development, Missouri Arts Council assume this legislation extends the time period that funds from the taxation of nonresident entertainers and athletes can be transferred from year 2008 to 2015, and would not fiscally impact their agencies.
Secretary of State (SOS), State Library officials assume current law allocates, subject to appropriation, ten percent of the nonresident income taxes from out of state professional athletes and entertainers to the Secretary of State for distribution to public libraries for the acquisition of library materials. These funds assist libraries in their efforts to provide accurate information for their communities. SOS assumes the Department of Revenue would have increased ability to collect taxes owed from entertainment venues. This bill also would extend the period for allocation of these taxes from seven years through 2015.
No additional staff will be needed by the Office of Secretary of State for this program. Cost for administration of the program can be absorbed by the agency.
| FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
Currently, the taxation of nonresident professional athletes and entertainers has a specific distribution schedule, subject to appropriation, which is set to expire in 2008. This proposal extends the expiration date of the distribution schedule to 2015.
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 Higher Education
Department of Revenue
Department of Economic Development
Missouri Arts Council
Secretary of State
State Library
Director
January 22, 2003