SB 0686 - Fiscal Note

Fiscal Note - SB 0686 - Removes "loss of accreditation" penalty for certain hold harmless dists. which have tax rate below $2.75 minimum levy

COMMITTEE ON LEGISLATIVE RESEARCH

OVERSIGHT DIVISION

FISCAL NOTE

L.R. NO. 3153-01

BILL NO. SB 686

SUBJECT: Education, Elementary and Secondary: Hold Harmless

TYPE: Original

DATE: January 20, 1998

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FISCAL SUMMARY

ESTIMATED NET EFFECT ON STATE FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
None	$0	$0	$0
Total Estimated Net Effect on All State Funds	$0	$0	$0

ESTIMATED NET EFFECT ON FEDERAL FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
None	$0	$0	$0
Total Estimated Net Effect on All Federal Funds	$0	$0	$0

ESTIMATED NET EFFECT ON LOCAL FUNDS
FUND AFFECTED	FY 1999	FY 2000	FY 2001
Local Government	$0	$0	$0

Numbers within parentheses: ( ) indicate costs or losses

This fiscal note contains 2 pages.

FISCAL ANALYSIS

ASSUMPTION

Officials from the State Tax Commission assume the proposal would have no fiscal impact on the agency.

Officials from the Department of Elementary and Secondary Education (DESE) assume the proposal would result in no cost to DESE or school districts.

FISCAL IMPACT - State Government	FY 1999	FY 2000	FY 2001
	(10 Mo.)
	0	0	0
FISCAL IMPACT - Local Government	FY 1999	FY 2000	FY 2001
	(10 Mo.)
	0	0	0

FISCAL IMPACT - Small Business

No direct fiscal impact to small businesses would be expected as a result of this proposal.

DESCRIPTION

No school district would be classified as unaccredited if the district is receiving the minimum amount of state aid and would receive that amount with a tax rate equal to the minimum value required.

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 Elementary and Secondary Education

State Tax Commission

Jeanne Jarrett, CPA

Director

January 20, 1998