This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0671 - Tax Anticipation Notes for Disaster Areas of '93 & '95
L.R. NO. 2756-01
BILL NO. Truly Agreed to and Finally Passed SB 671
SUBJECT: Flood Relief
TYPE: Original
DATE: February 7, 1996
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
None $0 $0 $0
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
None $0 $0 $0
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1997 FY 1998 FY 1999
Local Government $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
Officials of the Office of Administration, Department of Natural Resources,
and State Auditor's Office indicate that this legislation would have no
fiscal impact on their agencies.
Oversight assumes that certain levee or drainage districts could incur costs
associated with the issuance of tax anticipation notes if they elect to do
so; however, the legislation does not require the issuance of such notes.
Therefore, no costs are shown are shown for local governments.
FISCAL IMPACT - State Government FY 1997 FY 1998 FY 1999
0 0 0
FISCAL IMPACT - Local Government FY 1997 FY 1998 FY 1999
0 0 0
DESCRIPTION
This legislation would extend the authority of certain levee and drainage
districts to issue tax anticipation notes to repair levees damaged by natural
disasters occurring in 1995. The authority to issue such notes terminates
January 1, 1998.
The legislation has an emergency clause and is to be effective immediately
upon passage and approval.
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
Office of Administration
Department of Natural Resources
State Auditor's Office