COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 4375-01
BILL NO.: SB 965
SUBJECT: Counties: Science and Technology
TYPE: Original
DATE: February 21, 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 |
*Net of $17,000,000 loss to subdivisions and gain to county technology and assessor funds.
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the State Tax Commission (TAX) and the Department of Elementary and Secondary Education (DES) stated that the proposal would not affect their agencies, administratively.
TAX officials did note that the proposal would shift about $17,000,000 from political subdivisions into county technology funds. DES officials estimated that $8,000,000 would be lost to school districts each year.
| FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
| POLITICAL SUBDIVISIONS | |||
| Costs - 1/2% ad valorem taxes | $0 | ($17,000,000) | ($17,000,000) |
| Income - County Technology Funds and Assessor Funds | $0 | $17,000,000 | $17,000,000 |
| Costs - ad valorem taxes retained in Assessor Funds | (unknown) | (unknown) | (unknown) |
| Income - Assessor Funds | unknown | unknown | unknown |
| ESTIMATED NET EFFECT ON POLITICAL SUBDIVISIONS | $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 allow assessors of counties which become first classification counties after September 1, 2000, to continue to keep one-percent of taxes collected the first $500,000,000 in
assessed value for the assessors fund. (Under current law, assessors in first classification counties keep one-half percent of taxes collected.)
DESCRIPTION
The proposal would also add a one-half percent fee on property taxes to be used for technology purposes. The fee would be collected from 2001 through 2006. Representatives of counties and their subdivisions would decide, in 2006, whether to keep collecting the fee after 2006.
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
State Tax Commission
Jeanne Jarrett, CPA
Director
February 21, 2000