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

SPONSOR:	Nunez		DATE TYPED:	02/08/02		HB	370
SHORT TITLE:		Exempt College Special Events				SB
					ANALYST:		Smith

REVENUE

Estimated Revenue		Subsequent Years Impact	Recurring or Non-Rec	Fund Affected
FY02	FY03
	(92.0)		Recurring	OSF/Youth Conservation Corps
	(138.0)		Recurring	OSF/State Park Capital Improvements
	(688.0)		Recurring	Public Project Revolving Fund

(Parenthesis ( ) Indicate Revenue Decreases)

SOURCES OF INFORMATION

Taxation and Revenue Department

SUMMARY

Synopsis of Bill

The bill amends Section 7-9-3.2 to exclude “special events sponsored by the student association of a post-secondary educational institution” from the definition of governmental gross receipts.

FISCAL IMPLICATIONS

TRD reports that the provisions of this bill allow for an event sponsored by a student association to be excluded from the governmental gross receipts tax (GGRT) base. This would enable a post-secondary institution to avoid GGRT on receipts from a basketball game or concert simply by including the student association as a nominal “sponsor”. Thus, the relatively large fiscal impact estimate.

SS/njw:ar