COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4934-01
Bill No.: Truly Agreed to and Finally Passed HB 1688
Subject: Economic Development; Jackson County; Taxation and Revenue
Type: Original
Date: March 17, 2006
FISCAL SUMMARY
| FUND AFFECTED | FY 2007 | FY 2008 | FY 2009 |
| Total Estimated
Net Effect on General Revenue Fund |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2007 | FY 2008 | FY 2009 |
| Total Estimated
Net Effect on Other State Funds |
$0 | $0 | $0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
| FUND AFFECTED | FY 2007 | FY 2008 | FY 2009 |
| Total Estimated
Net Effect on All Federal Funds |
$0 | $0 | $0 |
| FUND AFFECTED | FY 2007 | FY 2008 | FY 2009 |
| Local Government | $0 | $0 | $0 |
ASSUMPTION
In response to a similar proposal from this year (SB 884), officials from the Department of Revenue and the Department of Economic Development each assumed the proposal would not fiscally impact their respective agencies.
Officials from the City of Kansas City, Jackson County and the Jackson County Sports Authority did not respond to our request for fiscal impact.
Oversight assumes this proposal could result in a savings of sales tax revenue dedicated to improvements at the Jackson County Sports Authority. The municipality's Special Allocation Fund would not see the additional revenue from the sales tax for the sports stadium as a result of this proposal. Oversight assumes the sales tax revenue (between the Sports Authority and municipalities within Jackson County) will net to zero.
| FISCAL IMPACT - State Government | FY 2007
(10 Mo.) |
FY 2008 | FY 2009 |
| $0 | $0 | $0 |
| FISCAL IMPACT - Local Government | FY 2007
(10 Mo.) |
FY 2008 | FY 2009 |
| LOCAL POLITICAL SUBDIVISIONS | |||
| Savings - Jackson County Sports Authority - from increase in sales tax not going to Special Allocation Fund with passage of bill |
$0 to Unknown |
$0 to Unknown |
$0 to Unknown |
| Loss - Special Allocation Fund of municipalities within Jackson County - from increase in sales tax revenue dedicated to sports stadium improvements not being utilized for TIF project. |
$0 to (Unknown) |
$0 to (Unknown) |
$0 to (Unknown) |
| ESTIMATED NET EFFECT TO LOCAL POLITICAL SUBDIVISIONS |
$0 |
$0 |
$0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
DESCRIPTION
This proposal excludes any sales tax imposed by Jackson County for the purpose of sports stadium improvement from the additional 50% economic activity tax revenue allocation for tax increment financing projects.
This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.
SOURCES OF INFORMATION
Department of Economic Development
Department of Revenue
NOT RESPONDING: Jackson County, City of Kansas City, Jackson County Sports Authority
Mickey Wilson, CPA
Director
March 17, 2006