COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4403-02
Bill No.: SB 1127
Subject: Tourism, Appropriations; Taxation and Revenue.
Type: Original
Date: February 20, 2002
FISCAL SUMMARY
FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
General Revenue * | Unknown | Unknown | Unknown |
Division of Tourism Supplemental Revenue* | (Unknown) | (Unknown) | (Unknown) |
Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
* Impact to either fund could exceed $100,000 in any fiscal year.
FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
None | |||
Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2003 | FY 2004 | FY 2005 |
Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
Officials from the Department of Revenue (DOR) state that the deletion of the SIC Codes defining "sales of tourism-related" could result in an unknown loss to the division of tourism supplemental revenue fund. This loss could exceed $100,000.
Officials from the Office of Administration - Budget and Planning state the proposal should not result in additional costs or savings to their agency.
Officials from the State Treasurer's Office and the Department of Economic Development - Division of Tourism state this proposal would not fiscally impact their agencies.
Oversight assumes the fiscal impact to the General Revenue fund would be a positive unknown fiscal impact, and the fiscal impact to the Division of Tourism Supplemental Revenue Fund (DTSRF) would be a negative unknown, but that the two would net to zero, since the annual transfer to the DTSRF is from GR.
FISCAL IMPACT - State Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
GENERAL REVENUE FUND | |||
Gain- less of a transfer to the Division of Tourism Supplemental Revenue Fund |
Unknown |
Unknown |
Unknown |
ESTIMATED NET EFFECT TO THE GENERAL REVENUE FUND |
Unknown |
Unknown |
Unknown |
DIVISION OF TOURISM SUPPLEMENTAL REVENUE FUND | |||
Loss - less of a transfer from the General Revenue Fund |
(Unknown) |
(Unknown) |
(Unknown) |
ESTIMATED NET EFFECT TO THE DIVISION OF TOURISM SUPPLEMENTAL REVENUE FUND |
(Unknown) |
(Unknown) |
(Unknown) |
FISCAL IMPACT - Local Government | FY 2003
(10 Mo.) |
FY 2004 | FY 2005 |
$0 | $0 | $0 |
FISCAL IMPACT - Small Business
This proposal may impact the amount of funds the Division of Tourism receives to promote tourist destinations, attractions and events, thereby impacting small business in the state of Missouri.
DESCRIPTION
This proposal deletes the listing of business SIC Codes in the definition of "sales of tourism-oriented goods and services" used by the Department of Revenue to determine the annual change in funding to the Division of Tourism Supplemental Revenue Fund. The proposal also states that the moneys in this fund shall not be appropriated for any other purpose.
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 Economic Development - Division of Tourism
Department of Revenue
Office of the State Treasurer
Office of Administration - Budget and Planning
Mickey Wilson, CPA
Acting Director
February 20, 2002