Fiscal Note - SB 0059 - License Plate for Jaycees; Sales Tax on Leased Motor Vehicles
L.R. NO. 0112-03
BILL NO. Truly Agreed And Finally Passed SB 59
SUBJECT: Motor Vehicles-License Plates
TYPE: Original
DATE: April 24, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Highway Fund ($74) $3,938 $3,938
Various State
Funds (Unknown) (Unknown) (Unknown)
Total Estimated
Net Effect on All $3,938 to $3,938 to
State Funds* ($74 to Unknown) (Unknown) (Unknown)
*Expected to be less than ($100,000) annually.
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
None $0 $0 $0
Total Estimated
Net Effect on All
Federal Funds $0 $0 $0
ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
Local Government $1,094 to $1,312 to $1,312 to
(Unknown) (Unknown) (Unknown)
FISCAL ANALYSIS
ASSUMPTION
Staff from the Department of Revenue Motor Vehicle Bureau stated there would
be costs for new application forms and materials to manufacture the new
Jaycee License plate. There would also be costs to revise policies and mail
the revisions to the Branch and Field Offices.
Information received from the Missouri Jaycees indicate there are
approximately 5,000 members which would be eligible for the license plate.
It is assumed 7% of these individuals would apply for the special license
plate.
5,000 x 7% = 350 Jaycee license plates x $15 = $5,250
$5,250/12 months = $437 x 10 months = $4,375 for 10 months of FY 98 and
$5,250 for FY 99 and FY 00. This increase would be distributed in accordance
with Article IV, section 30 (b) of the Missouri Constitution.
DOR stated the legislation would allow exempt inter-divisional transfers of
motor vehicles, trailers, boats, and outboard motors within a motor vehicle
leasing company if the company is also registered as a motor vehicle or boat
dealer. Currently, all transfers of vehicles between divisions of a motor
vehicle leasing company are subject to sales tax unless otherwise exempted.
This change would result in a modest loss to the Highway Fund, General
Revenue Fund, School District Trust Fund, Conservation Fund, Parks & Soil
Funds and city and county sales tax funds.
The revenue impact of this provision would result in an Unknown loss which
would be less than $100,000 to any one fund.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
(10 Mo.)
HIGHWAY FUND
Income-Department of Revenue
Application fees 75% $3,281 $3,938 $3,938
Cost-Department of Revenue
Expense & Equipment ($3,355) 0 0
ESTIMATED NET EFFECT
ON HIGHWAY FUND ($74) $3,938 $3,938
VARIOUS STATE FUNDS
Loss: (Unknown) (Unknown) (Unknown)
ESTIMATED NET EFFECT ON
VARIOUS STATE FUNDS* (Unknown) (Unknown) (Unknown)
*Expected to be less than ($100,000) annually
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
(10 Mo.)
LOCAL FUNDS
Income:
Cities (15%) $656 $788 $788
Counties (10%) $438 $524 $524
Loss:
Cities (Unknown) (Unknown) (Unknown)
Counties (Unknown) (Unknown) (Unknown)
ESTIMATED NET EFFECT ON
LOCAL FUND $1,094 $1,312 $1,312
to to to
(Unknown) (Unknown) (Unknown)
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of
the legislation.
DESCRIPTION
The legislation would allow for an active member of the Junior Chamber of
Commerce to purchase a special license plate bearing the shield of the
Missouri Junior Chamber of Commerce for an additional fee of $15.
The legislation also adds a provision that would allow exempt
inter-divisional transfers of motor vehicles, trailers, boats, and outboard
motors within a motor vehicle leasing company if the company is also
registered as a motor vehicle or boat dealer.
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 Revenue
This Fiscal Note is not an official copy and should not be quoted or cited.