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 - SJR 026 - Reduces maximum amount school levy without voter approval to $1.25 per $100 assessed value
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 1718-01
BILL NO.: SJR 26
SUBJECT: Constitutional Amendments: Education, Elementary and Secondary
TYPE: Original
DATE: February 23, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| General Revenue | $0 | ($42,300) | Unknown |
| State School Moneys | $0 | $0 | $0 |
| Total Estimated
Net Effect on All State Funds |
$0 | ($42,300) | Unknown |
|
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 | $0 | $0 | (Unknown) |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials of the Department of Elementary and Secondary Education stated that this proposal would not affect that agency, administratively. They did note that state law requires minimum school district tax rates to fully participate in Foundation Formula distributions. Depending upon voter actions to raise rates to the point where districts could fully participate, there could be decreased costs to fully fund the Formula. Oversight assumes that the proposal would not affect the Formula before FY 2002.
Advertisement costs for the proposal would be $3,990 per newspaper column inch for three publications of the text of the proposal, the introduction, title, fiscal note summary, and affidavit. The proposal would be on the ballot for the November 2000 general election.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| GENERAL REVENUE FUND | |||
| Savings - Reduced transfers to State | |||
| School Monies Fund | $0 | $0 | Unknown |
| Cost - Secretary of State | |||
| Newspaper Advertisements | $0 | ($42,300) | $0 |
| NET EFFECT ON GENERAL REVENUE | |||
| FUND | $0 | ($42,300) | Unknown |
| STATE SCHOOL MONIES FUND | |||
| Savings - Reduced Distributions to School | |||
| Districts | $0 | $0 | Unknown |
| Loss - Reduced transfers from General Revenue | |||
| Fund | $0 | $0 | (Unknown) |
| NET EFFECT ON STATE SCHOOL | |||
| MONEYS FUND | $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| SCHOOL DISTRICTS | |||
| Loss - Reduced Property Tax | $0 | $0 | (Unknown) |
| Cost - Reduced Distributions from Foundation | |||
| Formula | $0 | $0 | (Unknown) |
|
ESTIMATED NET EFFECT ON |
|||
| SCHOOL DISTRICTS | $0 | $0 | (UNKNOWN) |
| FISCAL IMPACT - Small Business | |||
| Small businesses could be affected by different tax rates enacted as a result of this proposal. | |||
DESCRIPTION
This proposal would reduce the tax rates school districts could impose without a vote to $1.25 per $100 assessed valuation from $2.75 per $100 assessed value.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. The proposal would not affect Total State Revenues.
SOURCES OF INFORMATION
Department of Elementary and Secondary Education
Secretary of State
Jeanne Jarrett, CPA
Director
February 23, 1999