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 0439 - Revises inclusion of part of debt service and capital projects levies in school operating levy
COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 1845-01
BILL NO.: SB 439
SUBJECT: Education, Elementary and Secondary: Levies
TYPE: Original
DATE: March 1, 1999
FISCAL SUMMARY
|
ESTIMATED NET EFFECT ON STATE FUNDS | |||
| FUND AFFECTED | FY 2000 | FY 2001 | FY 2002 |
| State School Monies | (GREATER THAN $100,000) | (GREATER THAN $100,000) | (GREATER THAN $100,000) |
| Total Estimated
Net Effect on All State Funds |
(GREATER THAN $100,000) | (GREATER THAN $100,000) | (GREATER THAN $100,000) |
|
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 | GREATER THAN $100,000 | GREATER THAN $100,000 | GREATER THAN $100,000 |
Numbers within parentheses: ( ) indicate costs or losses
This fiscal note contains 3 pages.
FISCAL ANALYSIS
ASSUMPTION
Officials from the State Tax Commission assume the proposal would result in no fiscal impact to the agency.
Officials from the Department of Elementary and Secondary Education (DESE) assume some districts could be able to have 18 cents more included in the formula calculation. This would increase the cost to fully fund the formula. The increase would be to the State Schools Monies Fund. There is not enough data available to provide a specific estimate. It is believed this increase could be in excess of $100,000 annually.
| FISCAL IMPACT - State Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| STATE SCHOOL MONIES FUND | |||
| Cost-Department of Elementary and | |||
| Secondary Education (DESE) | |||
| State Aid | (GREATER | (GREATER | (GREATER |
| THAN | THAN | THAN | |
| $100,000) | $100,000) | $100,000) | |
| FISCAL IMPACT - Local Government | FY 2000 | FY 2001 | FY 2002 |
| (10 Mo.) | |||
| SCHOOL DISTRICTS | |||
| Income-School Districts | |||
| State Aid | GREATER | GREATER | GREATER |
| THAN | THAN | THAN | |
| $100,000 | $100,000 | $100,000 | |
| FISCAL IMPACT - Small Business | |||
| No direct fiscal impact to small businesses would be expected as a result of this proposal. | |||
DESCRIPTION
The proposal would make changes to the school aid formula, including adding definitions for current operating cost, district's targeted rate, and fiscal instructional ratio of efficiency. In the definition of operating levy for school purposes inclusion of part of the debt service and capital projects levies would be revised.
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
March 1, 1999