COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 314-01
Bill No.: SB 230
Subject: Certain Counties: Tourism, Sales Tax, Economic Development
Type: Original
Date: February 2, 2001
FISCAL SUMMARY
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2002 | FY 2003 | FY 2004 |
| Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Department of Transportation officials assume this proposal would have no fiscal impact to their department
Department of Economic Development officials assume this proposal would have no fiscal impact to their department.
Department of Revenue officials assume if a sales tax were adopted by any of the counties described in this proposal they would need to update rate tables and distribution on the MITS system. Officials estimate costs of upgrades for 727 hours of programming at $24,569, and State Data Center implementation costs at $4,730 for a total one-time cost of ($29,299).
Oversight assumes that if a sales tax were approved by the voters of one of the eligible counties
DOR would have the responsibility of collecting the tax, and would receive income from a 1% collection fee, which, would be deposited into the State's General Revenue Fund. The amount of income that might be generated is indeterminable and unknown.
Stone County officials assume there would be no fiscal impact unless voters would approve the sales tax. Officials stated there would be some savings in costs associated with water quality meetings.
Oversight assumes this proposal is permissive and would require voter approval of a sales tax before there would be fiscal impact. Fiscal impact will be shown as $0 for both state and local government.
| FISCAL IMPACT - State Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2002
(10 Mo.) |
FY 2003 | FY 2004 |
| $0 | $0 | $0 |
FISCAL IMPACT - Small Business
Small business located in a county that would receive voter approval to impose a sales tax, to fund economic development programs, would be expected to pay and collect the sales tax.
DESCRIPTION
This act authorizes Taney, Stone, Barry and Ozark counties to enact sales taxes to fund programs that affect Economic Development. Voters may approve up to a one and one- half percent sales tax. The money collected from the tax would be distributed equally among programs for water quality, infrastructure and tourism. When at least twenty percent of the voters who voted in the
last gubernatorial election sign a petition requesting the repeal of the tax, the question for repealing the tax would be submitted to the voters.
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 Transportation
Department of Economic Development
Department of Revenue
Stone County Commission
Jeanne Jarrett, CPA
Director
February 2, 2001