COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4464-01
Bill No.: SB 1203
Subject: Tobacco Settlement Escrow Funds
Type: Original
Date: February 16, 2004
FISCAL SUMMARY
FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2004 | FY 2005 | FY 2006 |
Local Government | $0 | $0 | $0 |
ASSUMPTION
Officials of the Office of Administration - Division of Budget and Planning and Division of Accounting, the Department of Revenue, and the State Treasurer indicated that the proposal would not affect their agencies, administratively. Officials from the Office of the Attorney General stated that they could accomplish duties required by this proposal with existing resources
FISCAL IMPACT - State Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
$0 | $0 | $0 |
FISCAL IMPACT - Local Government | FY 2004
(10 Mo.) |
FY 2005 | FY 2006 |
$0 | $0 | $0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal would change the circumstances under which non-participating tobacco manufacturers could have the funds placed in escrow released. Under current law if a non-participating manufacturer can show that the amount placed in escrow is greater than the amount Missouri would have received from the manufacturer if the manufacturer had been a participating manufacturer then the "excess" would be released from escrow and revert back to the manufacturer. Under terms of this proposal, if the amount a non-participating manufacturer placed in escrow would have greater than the amount the manufacturer would have paid had it been a participating manufacturer then the "excess" would revert to the manufacturer.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space. This proposal would not affect Total State Revenue.
SOURCES OF INFORMATION
Attorney General
Department of Revenue
Office of Administration - Division of Accounting
Office of Administration - Division of Budget and Planning
State Treasurer
Mickey Wilson, CPA
Director
February 14, 2004