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

 

 

 

SPONSOR:

Feldman

 

DATE TYPED:

10/29/03

 

HB

 

 

SHORT TITLE:

Insurance Services Revenue Gross Receipts Tax

 

SB

9

 

 

ANALYST:

Williams

 

 

REVENUE

 

Estimated Revenue

Subsequent

Years Impact

Recurring

or Non-Rec

Fund

Affected

FY04

FY05

 

 

 

Revenue

Increase

Revenue

 Increase

 

Recurring

General Fund

 

 

 

 

 

(Parenthesis ( ) Indicate Revenue Decreases)

 

SOURCES OF INFORMATION

 

LFC Files

No Agency Responses Received

 

SUMMARY

 

     Synopsis of Bill

 

Sponsored by the Legislative Health and Human Services Committee, Senate Bill 9 removes the exemption from gross receipts tax on receipts from administrative services only contracts.  Other statutory technical changes are made. 

 

FISCAL IMPLICATIONS

 

The bill would increase recurring revenues to the General Fund.  Data is not readily available to estimate the fiscal impact.  The Taxation and Revenue Department has not yet submitted an estimate of the fiscal impact. 

 

AW/njw