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 0406 - Proposes expansion of the kinds of taxes available to retire debt in a Community Improvement District
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 1708-01
BILL NO.: SB 406
SUBJECT: Capital Improvements; Cities
TYPE: Original
DATE: February 15, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
|
ESTIMATED NET EFFECT ON FEDERAL FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| None | $0 | $0 | $0 |
| 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 | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials from the Department of Revenue assume this proposal would not fiscally impact their agency.
Platte City officials assume that this proposal would allow the assessment of a business license tax on businesses located in a Community Improvement District and assume no fiscal impact.
University City officials assume this proposal would have one-time costs estimated at $10,000 for computer programming and supplies.
Oversight assumes this proposal is permissive and would have no fiscal impact unless the governing body would gain voter approval to levy such tax. As a result, Oversight will show a zero fiscal impact to local governments.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| $0 | $0 | $0 | |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| $0 | $0 | $0 | |
| FISCAL IMPACT - Small Business | |||
| Small businesses located within a Community Improvement District that receives voter approval to levy a business license tax would have the additional costs of the license tax. | |||
DESCRIPTION
This act authorizes voter approval to use business license taxes in a Community Improvement District (CID) to provide revenue for district purposes or to retire debt incurred by the CID.
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
Platte City
University City
NOT RESPONDING: Department of Economic Development and Cities of: Raytown, Columbia, St. Charles, Springfield, Bridgeton and the County Commission of: Clay, Greene, St. Charles and Cole.
Jeanne Jarrett, CPA
Director
February 15, 1999