COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. NO.: 2533-02
BILL NO.: Perfected SCS for SB 0540
SUBJECT: Agriculture Department; Creates the State Fair Fee Fund
TYPE: Original
DATE: February 17, 2000
FISCAL SUMMARY
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
State Fair Fee Fund | $4,876 | $13,194 | $13,194 |
General Revenue Fund | ($4,876) | ($13,194) | ($13,194) |
Total Estimated
Net Effect on All State Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
None | $0 | $0 | $0 |
Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
FUND AFFECTED | FY 2001 | FY 2002 | FY 2003 |
Local Government | $0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 3 pages.
ASSUMPTION
The Office of the State Treasurer assumes their agency would not be administratively impacted by this proposed legislation. The Department of Revenue assumes there would be little or no administrative impact to their agency.
The Office of Administration (OA) assumes their agency would not be administratively impacted by this proposed legislation; however, they indicate that this legislation would impact total state revenue. OA assumes this legislation would increase total state revenue due to the receipt of contributions and gifts.
Officials from the Department of Agriculture assume interest revenue of $4,876 in 2001, $13,194 in 2002 and 2003 would be credited to the State Fair Fee Fund. AGR officials state the current State Fair Fees Account is actually treated as a fund for all practical purposes with balance carry overs between fiscal years and earmarking of use of funds. Therefore, no impact
would result from changing the name to the State Fair Fees Fund, other than the retention of interest earnings noted above.
FISCAL IMPACT - State Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
STATE FAIR FEE FUND | |||
Income - Department of Agriculture | |||
Creation of State Fair Fee Fund | $4,876 | $13,194 | $13,194 |
GENERAL REVENUE FUND | |||
Loss - Department of Agriculture | |||
Discontinuance of State Fair Fee Account |
($4,876) |
($13,194) |
($13,194) |
ESTIMATED NET EFFECT ON STATE FUNDS |
$0 |
$0 |
$0 |
FISCAL IMPACT - Local Government | FY 2001
(10 Mo.) |
FY 2002 | FY 2003 |
$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 act creates the "State Fair Fee Fund" which shall receive admission fees as well as other sales revenues generated by the Missouri State Fair. After necessary expenses, the balance of the fund shall be invested by the State Treasurer. Any income from investments shall be retained in the fund.
Current law requires the Director of Revenue to deposit any admission fees and revenues from sales to the credit of the "State Fair Fee Account" in General Revenue.
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 Agriculture
Department of Revenue
Office of Administration
Office of the State Treasurer
Jeanne Jarrett, CPA
Director
February 17, 2000