COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 3550-01
Bill No.: SJR 43
Subject: Constitutional Amendments: Appropriations
Type: Original
Date: March 5, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| General Revenue | ($55,260) | $0 | $0 |
| Total Estimated
Net Effect on General Revenue Fund |
($55,260) | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
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 from the Office of the Secretary of State assume that statewide newspaper publication of state statutes cost approximately $1,228 per column inch based on an estimate provided by the Missouri Press Service. Since three printings are required, the cost is $1,228 x 3 = $3,684 per column inch. The estimated total number of inches for this amendment is 10 inches including title header and certification paragraph, therefore the total estimated publication cost is $3,684 x 15 inches = $55,260. The proposal would be on the November, 2004, general election ballot.
Officials from the Office of Administration - Division of Budget and Planning and the State Treasurer stated that this proposal would have no direct fiscal or administrative impact on their organizations.
| FISCAL IMPACT - State Government | FY 2005 | FY 2006 | FY 2007 |
| GENERAL REVENUE FUND | |||
| Cost to Secretary of State
Newspaper Advertisements |
($55,260) |
$0 |
$0 |
| ESTIMATED NET EFFECT ON GENERAL REVENUE FUND |
($55,260) |
$0 |
$0 |
| FISCAL IMPACT - Local Government | FY 2005 | FY 2006 | FY 2007 |
| $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 proposal would change some provisions concerning the Budget Reserve Fund:
Emergency appropriations from the Fund would be repaid over four years (currently three) and repayment to the Fund would start two fiscal years after the emergency appropriation (currently repayment begins in the next fiscal year after the emergency appropriation);
At least thirty percent (30%) of excess General Revenue Fund collections over General Revenue
spending in a fiscal year would be transferred to the Budget Reserve Fund, subject to the provisions of section 18 or article X of the Missouri Constitution (refunds of excess Total State Revenues);
The General Assembly, in event of a gubernatorial reduction of spending under terms of section 27 of article IV or of a proclamation of emergency, could appropriate up to one-half of the funds transferred to the Budget Reserve Fund due to excess General Revenue collections over expenditures with a majority vote;
The General Assembly could appropriate the other one-half of the funds transferred to the Budget Reserve Fund due to excess General Revenue collections over expenditures with a two-thirds DESCRIPTION (continued)
vote;
In the event that General Revenue Fund revenues exceed General Revenue Fund expenditures in a fiscal year of an article X, section 18 refund, fifty percent of that excess would be transferred to the Budget Reserve Fund.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenues.
SOURCES OF INFORMATION
Office of Administration - Division of Budget and Planning
Secretary of State
State Treasurer
Mickey Wilson, CPA
Director
March 5, 2004