Optional Local Impacts and Improvement Act.

05LSO-0425.L6

                                                         

FISCAL NOTE

 

The non-administrative fiscal impact, in the form of potential revenue increases to the general fund and to local governments is indeterminable.

 

Any revenue increases would be dependent upon the counties passing the optional real estate transfer tax, and the specific tax rates adopted.

 

It is assumed the new tax could be in force beginning in FY 2007.

 

While enactment of this bill would not be anticipated to increase administrative costs to the Department of Revenue, enactment of the bill may increase administrative costs at the county level.

 

 

 

 

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

 

 

 

 

 

 

 

 

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 Audit