COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 3428-02
BILL NO.: SB 801
SUBJECT: Revenue Department; Taxation and Revenue - Sales; Business and Commerce.
TYPE: Original
DATE: January 28, 2000
FISCAL SUMMARY
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| 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 (DOR) state this proposal redefines an existing sales tax credit for certain food processors. They assume it will have no administrative impact on the DOR and believe the loss of revenue to the state would be very minimal to non-existent.
The Department of Natural Resources (DNR) states this proposal does not change the department's authority, therefore, DNR will not be impacted.
Officials from the Office of Administration - Budget and Planning state this proposal would have no impact on their agency and have no basis for estimating its fiscal impact on the state. The OA deferred to the fiscal impact estimate of the Department of Revenue.
FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003
$0 $0 $0
FISCAL IMPACT - Local 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.
DESCRIPTION
Under existing law, certain food processors are allowed a sales tax deduction for the use of recyclable cellulose made from cotton linters. This act allows the credit without regard to the material used in the casing.
The act has an emergency clause
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
Department of Revenue
Department of Natural Resources
Office of Administration
Budget and Planning
Jeanne Jarrett, CPA
Director
January 28, 2000