Property tax relief program amendments.

04LSO-0192.C1

                                                         

FISCAL NOTE (HB0034)

 

This bill contains an appropriation of $300,000 from the GENERAL FUND to the Department of Revenue.

 

	FY 2005	FY 2006	FY 2007
NON-ADMINISTRATIVE IMPACT
Anticipated Expenditure Increase:
GENERAL FUND	2,383,235	2,407,068	2,431,138

 

Source of expenditure increase: Monies necessary to fund refunds to qualified program participants.

 

Assumptions:

 

See attached spreadsheet. Please note that this spreadsheet was prepared jointly by the Department of Revenue and A&I Division of Economic Analysis.  Both agencies agree that the “hypothetical” figures recited therein are speculative.  Revision of these figures could significantly alter the estimated fiscal impact.  Information used for this analysis was gathered from various sources and is based on best information available.

 

Prepared by:   Wade Hall, Dept. of RevenuePhone:   777-5235

 

 

 

Note: The property tax relief granted through this bill is subject to legislative appropriation. The above estimate assumes that the property tax relief program would be funded through legislative appropriation from the General Fund.

 

Prepared by:   Dean Temte, LSO    Phone:   777-7881

 

 

 

This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.

The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:

 

Department of Revenue