Fiscal Note - SB 0070 - Money in the Humanities Council Trust Fund Shall Not be Transferred to General Revenue
L.R. NO. 0407-01
BILL NO. Truly Agreed to and Finally Passed SB 70
SUBJECT: Humanities Council Trust Fund
TYPE: Original
DATE: April 22, 1997
FISCAL SUMMARY
ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
General Revenue ($198,400) $0 ($401,200)
Humanities Council
Trust Fund $198,400 $0 $401,200
Total Estimated
Net Effect on All
State Funds $0 $0 $0
ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED FY 1998 FY 1999 FY 2000
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 $0 $0 $0
FISCAL ANALYSIS
ASSUMPTION
The Department of Economic Development, Missouri Arts Council assumes the net
effect to state funds would be zero, as this proposal exempts the Humanities
Council Trust Fund from the requirement that the fund balance lapse into the
General Revenue fund at the end of each biennium. They have projected the
ending balance in the Humanities Council Trust Fund at the end of the Fiscal
Year 1997 and Fiscal Year 1999 to be $198,400 and $401,200 respectively.
Oversight assumes the balance remaining in the Humanities Council Trust Fund
at the end of odd numbered years, as projected by the Missouri Arts Council,
would not be transferred to the General Revenue Fund.
FISCAL IMPACT - State Government FY 1998 FY 1999 FY 2000
GENERAL REVENUE FUND
Loss of Transferred Humanities Council
Trust Fund Balance ($198,400) $0 ($401,200)
HUMANITIES COUNCIL TRUST FUND
Retention of Year Ending Fund Balance $198,400 $0 $401,200
NET EFFECT TO STATE FUNDS $0 $0 $0
FISCAL IMPACT - Local Government FY 1998 FY 1999 FY 2000
$0 $0 $0
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of
this proposal.
DESCRIPTION
This bill, with an emergency clause, prohibits the transfer of any unexpended
balance remaining in the Missouri Humanities Council Trust fund to the credit
of the General Revenue Fund.
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
This Fiscal Note is not an official copy and should not be quoted or cited.