COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 0667-05
Bill No.: SJR 12
Subject: Constitutional Amendments: Roads and Highways
Type: Original
Date: March 17, 2003
FISCAL SUMMARY
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| General Revenue | $0 | ($34,850) | $0 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | ($34,850) | $0 |
| FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
| Road | $0 | $68,243,365 | $165,815,000 |
| Total Estimated
Net Effect on All Other State Funds |
$0 | $68,243,365 | $165,815,000 |
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 | $0 | $0 | $0 |
ASSUMPTION
Officials of the Missouri Department of Transportation (MoDOT) estimated additional income from this proposal based on actual collections for FY 2002 and assuming a 1.24% per year growth rate. They estimate $165,815,000 in FY 2006 and $167,868,000 in FY 2007. Oversight assumes that there would be five months of additional collections in FY 2005 ($68,243,365).
Department of Transportation officials assume that the moneys derived from the additional tax would not be subject to the "sharing" with cities and counties which applies to the "permanent" motor fuel taxes. They also assume that the moneys from the proposed tax would "free" existing Road Fund monies for use on additional maintenance and construction projects.
Officials of the Office of Administration's Division of Accounting stated that the proposal would not affect their agency.
Secretary of State officials stated that advertisement costs for the proposal would be $3,485 per column inch for three printings of the text of the proposal, the introduction, fiscal note summary, and affidavit. The proposal would be on the ballot for the November 2004 general election.
| FISCAL IMPACT - State Government | FY 2004 | FY 2005 | FY 2006 |
| GENERAL REVENUE FUND | |||
| Cost to Secretary of State
Newspaper Advertisements |
$0 |
($34,850) |
$0 |
| ESTIMATED NET EFFECT ON GENERAL REVENUE FUND |
$0 |
($34,850) |
$0 |
| STATE ROAD FUND | |||
| Income - Additional Tax proceeds | $0 | $68,243,365 | $165,815,000 |
| ESTIMATED NET EFFECT ON STATE ROAD FUND |
$0 |
$68,243,365 |
$165,815,000 |
| FISCAL IMPACT - Local Government | FY 2004 | FY 2005 | FY 2006 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
Small businesses which sell or purchase motor fuels would be affected by this proposal.
DESCRIPTION
This proposal would impose an additional tax of four cents ($.04) per gallon on motor fuels. Proceeds from this tax would be used to retire up to $2,250,000,000 in state road bonds authorized by the General Assembly before June 30, 2006.
The tax would terminate whenever the Commissioner of Administration determines that proceeds from the tax are sufficient to retire the state road bonds or December 31, 2026, whichever is earlier.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. This proposal would not affect Total State Revenue.
SOURCES OF INFORMATION
Department of Transportation
Office of Administration - Division of Accounting
Secretary of State
Mickey Wilson, CPA
Director
March 17, 2003