COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4847-01
Bill No.: SJR 50
Subject: Constitutional Amendments: Bonds - General Obligation and Revenue
Type: Original
Date: April 6, 2004
FISCAL SUMMARY
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| General Revenue | ($36,840) | $0 | $0 |
| Total Estimated
Net Effect on General Revenue Fund |
($36,840) | $0 | $0 |
| FUND AFFECTED | FY 2005 | FY 2006 | FY 2007 |
| Total Estimated
Net Effect on All Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 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 Department of Elementary and Secondary Education stated that the proposal would not have any direct fiscal effect on their agency. They noted that the proposal would make it easier for school districts to get voter approval for bond issues.
Secretary of State officials stated that advertisement costs for the proposal would be $3,684 per newspaper column inch for three printings of the text of the proposal, the introduction, title, fiscal note summary, and affidavit. The proposal would be on the ballot for the November 2004 general election.
| FISCAL IMPACT - State Government | FY 2005 | FY 2006 | FY 2007 |
| Cost to General Revenue Fund
Secretary of State Newspaper Advertisements |
($36,840) |
$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; however, it would increase the possibility of adoption of bond issues and this might result in increased property taxes.
DESCRIPTION
This proposal would make the vote required to pass school district bond issues a simple majority of those voting at general elections or general municipal elections. (Currently, four-sevenths majorities are required to pass proposals offered on general municipal election days, general primary days and general election days and two-thirds majorities are required to pass proposals offered on any other election days.)
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 Elementary and Secondary Education
Secretary of State
Mickey Wilson, CPA
Director
April 6, 2004