COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION



FISCAL NOTE



L.R. NO.: 2687-01

BILL NO.: SJR 41

SUBJECT: Constitutional Amendments: School Bond Issues

TYPE: Original

DATE: December 28, 1999




FISCAL SUMMARY



ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 2001 FY 2002 FY 2003
General Revenue ($47,000) $0 $0
Total Estimated

Net Effect on All

State Funds

($47,000) $0 $0



ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 2001 FY 2002 FY 2003
Total Estimated

Net Effect on All

Federal Funds

$0 $0 $0



ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 2001 FY 2002 FY 2003
Local Government $0 $0 $0

Numbers within parentheses: ( ) indicate costs or losses

This fiscal note contains 3 pages.

FISCAL ANALYSIS



ASSUMPTION



Officials of the Department of Revenue and the Department of Elementary and Secondary Education stated the proposal would not directly affect their agencies.



Advertisement costs for the proposal would be $4,380 per newspaper column inch for three publications of the text of the proposal, the introduction, title, fiscal note summary, and affidavit. The proposal would be on the ballot for the November 2000 general election.





FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003



Cost to General Revenue Fund

Secretary of State

Newspaper Advertisements ($47,000)





FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003



0 0 0





FISCAL IMPACT - Small Business



No direct fiscal impact to small businesses would be expected as a result of this proposal; however, smaller majorities required to pass tax increases could increase their likelihood.



DESCRIPTION



This proposal would make the vote required to pass school district bond issues a simple majority of those voting. (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. The proposal would not affect Total State Revenue.



SOURCES OF INFORMATION



Department of Elementary and Secondary Education

Department of Revenue











Jeanne Jarrett, CPA

Director

December 28, 1999