COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
LR No.: 4618-01
Bill No.: SB 1289
Subject: St. Louis Regional Convention and Sports Authority:
Type: Original
Date: March 16, 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 |
| Total Estimated
Net Effect on Other 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 or (Unknown) | $0 or (Unknown) | $0 or (Unknown) |
ASSUMPTION
Officials of the City of St. Louis assume no fiscal impact.
Oversight assumes fiscal impact to the St. Louis Regional Sports Complex Authority would be the loss of revenue that one luxury suite or luxury box would generate. Oversight tried unsuccessfully to contact Authority officials to obtain what the exact amount of loss of revenue would be. Oversight will show the loss of revenue as $0 or unknown. Nothing in this proposal requires the authority to reserve a luxury suite for purposes of marketing the complex.
Officials of the St. Louis Regional Sports Complex Authority did not respond to Oversight's request.
| FISCAL IMPACT - State Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2005
(10 Mo.) |
FY 2006 | FY 2007 |
| ST. LOUIS REGIONAL CONVENTION AND SPORTS COMPLEX AUTHORITY | |||
| Loss of Revenue to St. Louis Regional Convention and Sports Complex Authority | |||
| from use of one luxury suite for purposes of the authority. | (Unknown) | (Unknown) | (Unknown) |
| ESTIMATED NET EFFECT TO ST. LOUIS REGIONAL CONVENTION AND SPORTS COMPLEX AUTHORITY | $0 or (Unknown) | $0 or (Unknown) | $0 or (Unknown) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This act adds various provisions that expressly limit the authorities power in certain situations to those expressed in Sections 67.650 to 67.658, RSMo. Further, the act allows the authority to own, lease, or otherwise occupy, at no cost to the authority, a luxury suite, luxury box, or other similar accommodation located at, upon, or within any stadium, facility, or complex owned, leased, or operated by the authority and to accept tickets to any event of any kind at such stadium, facility or complex, subject to certain restrictions expressed within the act.
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
City of St. Louis
NOT RESPONDING
St. Louis Regional Convention and Sports Complex Authority
Mickey Wilson, CPA
Director
March 16, 2004