This Fiscal Note is not an official copy and should not be quoted or cited.
This Fiscal Note is not an official copy and should not be quoted or cited.
Fiscal Note - SB 0381 - Exempts from sales and use tax sales of coke, coke breeze and reagents which become ingredients of steel/lead products
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 1702-01
BILL NO.: SB 381
SUBJECT: Revenue Dept.; Taxation and Revenue-General-Sales and Use
TYPE: Original
DATE: February 22, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| General Revenue | (unknown) | (unknown) | (unknown) |
| School District Trust | (unknown) | (unknown) | (unknown) |
| Conservation | (unknown) | (unknown) | (unknown) |
| Parks and Soil | (unknown) | (unknown) | (unknown) |
| Total Estimated
Net Effect on All State Funds |
(expected to exceed $100,000) | (expected to exceed $100,000) | (expected to exceed $100,000) |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON LOCAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| Local Government | (unknown) | (unknown) | (unknown) |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Revenue (DOR) state this legislation would exempt coke, coke breeze and reagents, which are ingredients of steel or lead products. DOR staff state this proposal would not fiscally impact their agency.
DOR staff state the revenue impact of this proposal is an unknown loss expected to exceed $100,000 annually.
Officials of the Office of Administration state they have not been able to find any empirical basis to estimate the fiscal impact of this proposal.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| Loss to State Funds: | |||
| General Revenue Fund | (unknown) | (unknown) | (unknown) |
| School District Trust Fund | (unknown) | (unknown) | (unknown) |
| Conservation Sales Tax Fund | (unknown) | (unknown) | (unknown) |
| Parks and Soil Sales Tax Fund | (unknown) | (unknown) | (unknown) |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| Loss to Political Subdivisions | (unknown) | (unknown) | (unknown) |
| FISCAL IMPACT - Small Business | |||
| Small businesses would be expected to be fiscally impacted to the extent that they pay state and local sales tax on taxable items. Small businesses that purchase coke, coke breeze and other reagents covered in this proposal would be able to do so for less. | |||
DESCRIPTION
This act exempts from sales and use tax sales of coke, coke breeze, and reagents which become ingredient or component parts in steel or lead products.
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
Office of Administration
Jeanne Jarrett, CPA
Director
February 22, 1999