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| SPONSOR: | Nava | DATE TYPED: | 02/04/99 | HB | |||
| SHORT TITLE: | Gaming Tax to Public School Capital Outlay | SB | 240 | ||||
| ANALYST: | Taylor | ||||||
| Subsequent
Years Impact |
Recurring
or Non-Rec |
Fund
Affected | ||
| FY99 | FY2000 | |||
| $ 0.0 | $ (26,000.0) | $ (26,000.0) | Recurring | General Fund |
| $ 0.0 | $ 26,000.0 | $ 26,000.0 | Recurring | Public School Capital Outlay |
(Parenthesis ( ) Indicate Revenue Decreases)
Duplicates/Conflicts with/Companion to/Relates to
SOURCES OF INFORMATION
Taxation and Revenue Department
State Department of Education
LFC Files
SUMMARY
Synopsis of Bill
Senate Bill 240 would change the distribution of gaming tax revenues from the state's general fund to the public school capital outlay fund.
The bill does not include an effective date. Thus, it is assumed that it would become effective 90 days after the end of the session.
FISCAL IMPLICATIONS
Gaming tax revenues in FY 2000 are estimated at $26 million. Thus, the general fund would lose $26 million, while the public school capital outlay fund would gain $26 million. These changes would be recurring.
BT/njw