NOTE:  As provided in LFC policy, this report is intended only 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 for other purposes.

 

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

 

 

 

SPONSOR:

Maes

DATE TYPED:

2/28/03

 

HB

 

SHORT TITLE:

Gaming Tax Revenue Distributions

 

SB

850

 

 

ANALYST:

Smith

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY03

FY04

 

 

 

 

10, 290.0

 

Recurring

Municipalities

 

(10,290.0)

 

Recurring

General Fund

 

 

 

 

 

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

Responses Received From

 

LFC Files

 

SUMMARY

   

Synopsis of Bill

 

Senate Bill 850 diverts 24.5 percent of the gaming tax from the general fund to municipalities who have a gaming operator within its boundaries or within 10 miles.  The revenues will be distributed to the various municipalities in proportion to their population.

 

SS/njw