Severance tax distribution.

08LSO-0375.L1

                                                         

FISCAL NOTE

 

 

FY 2009

FY 2010

FY 2011

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase (Decrease):

 

 

 

BUDGET RESERVE ACCOUNT

(109,950,000)

(128,450,000)

(132,500,000)

HIGHWAY FUND

109,950,000

128,450,000

132,500,000

 

Source of revenue increase (decrease):

 

Diversion of one-third of the severance tax distribution over the $155 million cap from the Budget Reserve Account to the Highway Fund

 

Assumptions:

 

The above estimates are based on the severance tax distributions forecasted in Table 4 of the January 2008 CREG forecast.

 

This diversion would be in effect for the period beginning July 1, 2008 and ending June 30, 2016.

 

If this bill is enacted into law, then any General Fund appropriation contained in 2008 Senate File 0001, Section 2, Section 045 to the Department of Transportation for the purposes of road construction shall not be effective. The General Fund appropriation contained in 2008 Senate File 0001 to the Department of Transportation for road construction, as recommended by the Joint Appropriations Committee for the 2009-10 biennium, is $200 million.

 

 

 

 

 

 

 

 

 

 

 

 

 

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