Severance tax distribution. |
08LSO-0375.L1 |
FISCAL NOTE
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