COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
LR No.: 3518-01
Bill No.: SB 970
Subject: Counties: County Assessment Fund
Type: Original
Date: January 15, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Blind Pension Trust | (Unknown) | (Unknown) | (Unknown) |
| Total Estimated
Net Effect on All State Funds |
(Unknown) | (Unknown) | (Unknown) |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials of the State Tax Commission assume this proposal could impact Camden, Cape Girardeau, and Cole Counties. Officials assume this proposal changes the percentage of ad valorem tax collections to be put in the County Assessment Fund. This proposal transfers local funds from one local political subdivision to another local political subdivision.
Jasper County officials assume this proposal would be a major revenue enhancement to counties becoming a county of the first class after September 1, 1997. Officials estimate that Jasper County would realize approximately $230,000 for the County Assessment Fund.
Officials of the Cit;y of Kansas City and Springfield assume no fiscal impact.
Oversight assumes, based on statements made by the State Tax Commission that this proposal would affect Camden, Cape Girardeau and Cole County's Assessment Fund by providing more income to those funds. Oversight assumes that the additional income would be withheld from all taxing authorities in those counties and would impact the State's Blind Pension Trust Fund..
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| BLIND PENSION TRUST FUND | |||
| Loss of Revenue - Blind Pension Trust Fund | |||
| from increase in withholding | (Unknown) | (Unknown) | (Unknown) |
| ESTIMATED NET EFFECT TO BLIND PENSION TRUST FUND | (Unknown) | (Unknown) | (Unknown) |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| CERTAIN COUNTIES | |||
| Income - County Assessment Fund | |||
| from additional withholdings | Unknown | Unknown | Unknown |
| Loss of Revenue - County Taxing Authorities | |||
| from additional withholdings | (Unknown) | (Unknown) | (Unknown) |
| ESTIMATED NET EFFECT TO CERTAIN LOCAL GOVERNMENTS | $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 provides that in any county which becomes a first classification county after September 1, 1997, one percent of all ad valorem taxes allocable to the county and each taxing authority in the county shall be deducted from taxes collected on the first five hundred million dollars of
assessed valuation.
DESCRIPTION (continued)
The one-percent fee will be assigned among the political subdivisions. Beyond the five hundred million dollars of assessed valuation the amount of the deduction shall be one half of one percent, consistent with the current law.
Currently, the law provides for such counties which become first classification counties after September 1, 1998.
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
State Tax Commission
City of Kansas City
Jasper County Commission
City of Springfield
NOT RESPONDING
The Cities of: St. Charles, Independence, Belton, St. Joseph, Maryville, Kirksville, Jefferson City, Ozark, Boonville, Fulton, and Columbia, and St. Louis,
The Counties of: Boone, Callaway, Cole, Cass, Clay, Franklin, Greene, Jackson, Jefferson, Johnson, Marion, Platte, St. Charles, St. Louis, Taney, and Warren Counties.
Mickey Wilson, CPA
Director
January 15, 2004