COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION



FISCAL NOTE



LR No.: 1761-01

Bill No.: Perfected SB 522

Subject: Counties: Sales Tax, Capital Improvements

Type: Original

Date: March 18, 2003



FISCAL SUMMARY



ESTIMATED NET EFFECT ON GENERAL REVENUE FUND
FUND AFFECTED FY 2004 FY 2005 FY 2006
Total Estimated

Net Effect on

General Revenue

Fund

 $0 $0 $0



ESTIMATED NET EFFECT ON OTHER STATE FUNDS
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.











ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 2004 FY 2005 FY 2006
Total Estimated

Net Effect on All

Federal Funds

 $0 $0 $0



ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 2004 FY 2005 FY 2006
Local Government $0 $0 $0




FISCAL ANALYSIS



ASSUMPTION



Officials of the Department of Revenue assume no fiscal impact.



Officials of the Franklin County Commission assume no fiscal impact.



Oversight assumes this proposal provides an additional sales tax rate that county officials could submit to the voters for approval for funding capital improvement projects. This proposal does not mandate that the new rate be imposed. Therefore, Oversight assumes no state or local fiscal impact.



Counties not responding are as follows: Johnson, Warren, Marion, Boone, Callaway, Jefferson, Taney, Clay, Platte, and Cape Girardeau Counties.



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



This act enables a county to submit to a vote a sales tax of one fifth of one percent for capital improvement purposes. Current law authorizes every aspect of this tax, except for the specific rate of one-fifth of one percent. Current law allows for various rates to be voted on from one-eighth to one-half of one percent.

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

Franklin County Commission











Mickey Wilson, CPA

Director

March 18, 2003