COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 2060-02
Bill No.: SB 543
Subject: Education, Elementary and Secondary
Type: Original
Date: March 5, 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
Officials from the Department of Elementary and Secondary Education (DESE) assume the proposal would result in no increase or decrease in state cost.
DESE officials assume a district meeting the criteria in the bill would have more flexibility in the expenditure of moneys in its Incidental Fund. The bill would allow a qualified district to transfer more of its Incidental Fund moneys to the Capital Projects Fund. There would be no net increase or decrease in local or state moneys.
| 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
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
Any school district which has undergone at least a 20% increase in assessed valuation in one year because of the construction of a power plant could make a one-time transfer from the Incidental Fund to the Capital Projects Fund of twice the permitted amount if the transfer would be made prior to the end of the second fiscal year that follows the fiscal year in which the increase is effective.
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
Department of Elementary and Secondary Education
Jeanne Jarrett, CPA
Director
March 5, 2001