L.R. NO. 3321-01
BILL NO. SB 739
SUBJECT: Fire Protection: State Treasurer
TYPE: #Corrected
DATE: January 24, 2000
#Due to computational error
Net Effect on All State Funds
FUND AFFECTED
FY 2001
FY 2002
FY 2003 General Revenue
($147,000)
($148,190)
($148,190) Fire Education
$0
$0
$0 Fire Education Trust
$0 to $58,800
$0 to $59,190
$0 to $59,190 Total Estimated
( $118,200 to
$147,000)
($89,000 to
$148,190)
($89,000 to
$148,190)
| 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 4 pages.
ASSUMPTION
Officials from the Department of Insurance, the Department of Revenue, and the University of Missouri stated the proposal would not affect their agencies, administratively.
In response to a similar proposal, the Department of Public Safety and the Office of the State Treasurer assumed the proposal would not affect their agencies, administratively.
The Governor's Budget for FY 2001 shows General Revenue Insurance Tax receipts of $145,801,930 in FY 1999 and estimates receipts of $147,000,000 for FY 2000 and $148,190,000 for FY 2001. One-half of these collections are retained by the General Revenue Fund. This proposal would allow transfers to the Fire Education Trust Fund of approximately $147,000 in FY 2001 and $148,190 in FY 2002. Oversight assumes receipts would remain constant at $148,190,000 per year, subsequently.
FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003
(10 Mo.)
FIRE EDUCATION FUND
Income - Transfers from General Revenue $147,000 $148,190 $148,190
Cost - Transfers to Fire Education Trust Fund ($ 58,800) ($ 59,276) ($ 59,276)
Cost - Distribution to University of Missouri
Fire and Rescue Training Institute ($ 88,200) ($ 88,914) ($ 88,914)
NET EFFECT ON FIRE EDUCATION
FUND $0 $0 $0
GENERAL REVENUE FUND
Cost - Transfers to Fire Education Fund ($147,000) ($148,190) ($148,190)
NET EFFECT ON GENERAL REVENUE
FUND ($147,000) ($148,190) ($148,190)
FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003
(10 Mo.)
FIRE EDUCATION TRUST FUND
Income - Transfers from Fire Education Fund $58,000 $59,276 $59,276
Cost - Appropriations for Fire Education
Programs ($0 ($0 ($0
to to to
($ 58,800) ($ 59,276) ($ 59,276)
NET EFFECT ON FIRE EDUCATION
TRUST FUND $0 $0 $0
to to to
$58,800 $59,276 $59,276
FISCAL IMPACT - Local Government FY 2001 FY 2002 FY 2003
(10 Mo.)
0 0 0
FISCAL IMPACT - Small Business
No direct fiscal effect on small businesses would be expected due to this proposal.
DESCRIPTION
This proposal would change the base years and the percentage for calculating premium taxes levied on insurance companies, which are transferred from the General Revenue Fund to the Fire Education Fund.
This legislation is not federally mandated, would not duplicate any other program, and would not require additional capital improvements or rental space. This legislation would not affect Total State Revenue.
SOURCES OF INFORMATION
Department of Insurance
Department of Public Safety
Department of Revenue
Office of State Treasurer
University of Missouri
Jeanne Jarrett, CPA
Director
January 24, 2000