COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 4482-01
BILL NO.: SB 1014
SUBJECT: Revenue Dept.; Taxation and Revenue-General-Sales and Use
TYPE: Original
DATE: March 3, 2000
FISCAL SUMMARY
| FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
| General Revenue | (unknown) | (unknown) | (unknown) |
| School District Trust | (unknown) | (unknown) | (unknown) |
| Conservation | (unknown) | (unknown) | (unknown) |
| Parks and Soil | (unknown) | (unknown) | (unknown) |
| Total Estimated
Net Effect on All State Funds |
($100,000) to ($200,000) | ($100,000) to ($200,000) | ($100,000) to ($200,000) |
| 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 | (unknown) | (unknown) | (unknown) |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the Department of Revenue (DOR) state this legislation would exempt from sales and use tax the sale of coke, coke breeze and reagents, which are ingredients of steel or lead products. DOR staff state this proposal would not fiscally impact their agency.
DOR staff state the revenue impact of this proposal would be a loss of total state revenue in a range of $100,000 to $200,000 annually.
Officials of the Office of Administration state they have not been able to find any empirical basis to estimate the fiscal impact of this proposal.
This proposal would result in a decrease in Total State Revenues.
FISCAL IMPACT - State Government FY 2001 FY 2002 FY 2003
(10 Mo.)
Loss to State Funds:
General Revenue Fund (unknown) (unknown) (unknown)
School District Trust Fund (unknown) (unknown) (unknown)
Conservation Sales Tax Fund (unknown) (unknown) (unknown)
Parks and Soil Sales Tax Fund (unknown) (unknown) (unknown)
FISCAL IMPACT - Local Government FY 2001 FY 2002 FY 2003
(10 Mo.)
Loss to Political Subdivisions (unknown) (unknown) (unknown)
FISCAL IMPACT - Small Business
Small businesses would be expected to be fiscally impacted to the extent that they pay state and local sales tax on taxable items. Small businesses that purchase coke, coke breeze and other reagents covered in this proposal would be able to do so for less.
DESCRIPTION
This proposal exempts coke, coke breeze, and reagents from sales and use taxation when the materials are consumed in the manufacturing process and become component parts or ingredients
DESCRIPTION (continued)
of steel or lead products.
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
Office of Administration
Budget and Planning
Jeanne Jarrett, CPA
Director
March 3, 2000