NOTE: As provided in LFC policy, this report is intended for use by the standing finance committees of the legislature.  The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.



Only the most recent FIR version, excluding attachments, is available on the Intranet. Previously issued FIRs and attachments may be obtained from the LFC office in Suite 101 of the State Capitol Building North.



F I S C A L I M P A C T R E P O R T



SPONSOR: Sandoval DATE TYPED: 02/15/01 HB 580
SHORT TITLE: Gross Receipts Tax Deduction for Podiatrists SB
ANALYST: Eaton


REVENUE



Estimated Revenue
Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY01 FY02
$ (74.0) $ (81.0) Recurring General Fund
$ (53.0) $ (58.0) Recurring Local Govt.



(Parenthesis ( ) Indicate Revenue Decreases)



Duplicates Senate Bill 195



SOURCES OF INFORMATION



Taxation and Revenue Department (TRD)

State Agency on Aging



SUMMARY



Synopsis of Bill



The bill extends 1998's Medicare B deduction for doctors and osteopaths and 2000's expansion to Medicare B receipts of hospices to podiatrists.



Significant Issues



1997 Census of Healthcare Industries reports 45 podiatrists establishments with 162 employees and $10,968,000 in sales.



FISCAL IMPLICATIONS



The estimated full year impact on the general fund is an estimated $81.0. Local government revenues are estimated to be lower by $58.0.



The Taxation and Revenue Department (TRD) estimate assumes 17.8% of podiatrist's receipts are derived from Medicare, and reports the actual percentage might be higher.



ADMINISTRATIVE IMPLICATIONS



Minimal.



JBE/njw:ar