COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 1303-04
Bill No.: SCS for SB's 347 and 487
Subject: Taxation and Revenue - Property: Property, Real and Personal
Type: Original
Date: March 13, 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 | (Unknown) | (Unknown) | (Unknown) |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials of the State Tax Commission stated the proposal would not affect any source of state funds or have any administrative effects on their agency.
They did note that the proposal would shift about $11,000,000, statewide, into technology funds from other local government funds. Beginning in FY 2006 the amount shifted would be about 25% of the amounts transferred during FY 2003 through FY 2005. The amount of payments in lieu of taxes made by counties to political subdivisions within counties would not be known until after assessors made their reports.
The proposal would require new duties of assessors. The effect on assessors would vary depending upon how many tax-exempt properties are in a county.
| 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 |
| POLITICAL SUBDIVISIONS | |||
| Income - Assessment Funds for GIS | $0 | $11,000,000 | $11,000,000 |
| Income - Payments in Lieu of Taxes | $0 | Unknown | Unknown |
| Cost - Assessors for reports of tax-exempt properties | (Unknown) | (Unknown) | (Unknown) |
| Cost - Counties for Payments in Lieu of Taxes | $0 | (Unknown) | (Unknown) |
| Loss - Other Local Government Funds | $0 | ($11,000,000) | ($11,000,000) |
| ESTIMATED NET EFFECT ON POLITICAL SUBDIVISIONS | (Unknown) | (Unknown) | (Unknown) |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal would, beginning January 1, 2002, and ending December 31, 2004, devote a DESCRIPTION (continued)
percentage of all ad valorem property tax collections for installation and maintenance of geographic information systems programs.
The proposal would also require assessors to compile reports of specified county-owned property-tax exempt properties which are not used directly to provide county services or are generating rental income for a county and require counties to make payments in lieu of taxes to political subdivisions for taxes which would have been collected on those properties had they not become tax exempt.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenue.
SOURCES OF INFORMATION
State Tax Commission
Jeanne Jarrett, CPA
Director
March 13, 2001