COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 4410-01
BILL NO.: SJR 0054
SUBJECT: Education, Elementary and Secondary: Maximum Levy
TYPE: Original
DATE: February 23, 2000
FISCAL SUMMARY
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
General Revenue | ($43,800) | UNKNOWN | UNKNOWN |
State School Moneys | $0 | $0 | $0 |
Total Estimated
Net Effect on All State Funds |
($43,800) | UNKNOWN | UNKNOWN |
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 | (UNKNOWN) | (UNKNOWN) |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
ASSUMPTION
Officials from the State Tax Commission assume the proposal would result in no fiscal impact to the agency.
Officials from the Secretary of State's Office assume statewide newspaper publication of constitutional amendments costs approximately $1,455 per column inch based on estimates provided by the Missouri Press Service x 3 for multiple printings as required by the Constitution and state statutes = $4,380 per column inch. Estimated total number of inches for this amendment would be 10 inches, which includes the title header and certification paragraph. $4,380 x 10 inches = $43,800. This cost would be in FY 2001.
Based on a response to a similar proposal in the prior year (SJR 26), officials of the Department of Elementary and Secondary Education stated the proposal would not affect the agency, administratively. They did note that state law requires minimum school district tax rates to fully participate in Foundation Formula distributions. Depending upon voter actions to raise rates to the point where districts could fully participate, there could be decreased costs to fully fund the Formula. Oversight assumes that the proposal would not affect the Formula before FY 2002.
FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
GENERAL REVENUE FUND | |||
Savings-Department of Elementary and Secondary Education (DESE) | |||
Reduced Transfers to the State School Moneys Fund | $0 | Unknown | Unknown |
Cost-Secretary of State's Office | |||
Newspaper Advertisements | ($43,800) | $0 | $0 |
ESTIMATED NET EFFECT ON | |||
GENERAL REVENUE FUND | ($43,800) | UNKNOWN | UNKNOWN |
STATE SCHOOL MONEYS FUND | |||
Savings-Department of Elementary and Secondary Education (DESE) | |||
Reduced Distributions to School Districts | $0 | Unknown | Unknown |
Loss-Department of Elementary and Secondary Education (DESE) | |||
Reduced Transfers from General Revenue Fund | $0 | (Unknown) | (Unknown) |
ESTIMATED NET EFFECT ON STATE SCHOOL MONEYS FUND | $0 | $0 | $0 |
FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
SCHOOL DISTRICTS | |||
Loss-School Districts | |||
Reduced Property Tax and Reduced Distributions from the Foundation Formula | $0 | (UNKNOWN) | (UNKNOWN) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
The proposal would reduce the tax rates school districts could impose without a vote to $1.25 per $100 assessed valuation from $2.75 per $100 assessed valuation.
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 Elementary and Secondary Education
State Tax Commission
Secretary of State's Office
Jeanne Jarrett, CPA
Director
February 23, 2000