COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 3023-01
BILL NO.: SB 548
SUBJECT: Tobacco Settlement Trust Fund
TYPE: Original
DATE: January 14, 2000
FISCAL SUMMARY
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Missouri Settlement | $143,200,000 | $172,000,000 | $173,500,000 |
| General Revenue | ($143,200,000) | ($172,000,000) | ($173,500,000) |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| 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.
ASSUMPTION
Officials of the Department of Revenue, the Department of Social Services, the Department of Health, the Department of Mental Health and the State Treasurer stated that their agencies would not be directly affected by the proposal or that their duties under this proposal could be accomplished with existing resources.
Oversight assumes that tobacco settlement funds would be deposited into the General Revenue Fund in the absence of this proposal.
FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003
(10 Mo.)
MISSOURI SETTLEMENT TRUST FUND
Income - tobacco settlement funds $143,200,000 $172,000,000 $173,500,000
GENERAL REVENUE FUND
Loss - tobacco settlement funds ($143,200,000) ($172,000,000) ($173,500,000)
FISCAL IMPACT - Local Government FY 2001 FY 2002 FY 2003
(10 Mo.)
$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 create the "Missouri Settlement Trust Fund". The State Treasurer would deposit all moneys received from tobacco companies in settlement of a dispute between Missouri and tobacco companies. Monies in the Fund would not revert to general revenue at the end of the biennium.
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 directly affect DESCRIPTION (continued)
Total State Revenues.
SOURCES OF INFORMATION
Department of Health
Department of Mental Health
Department of Revenue
Department of Social Services
State Treasurer
Jeanne Jarrett, CPA
Director
January 14, 2000