COMMITTEE ON LEGISLATIVE RESEARCH
OVERSIGHT DIVISION
FISCAL NOTE
L.R. No.: 4898-01
Bill No.: SB 1073
Subject: Aircraft and Airports; Boats and Watercraft; Business and Commerce; Contracts and Contractors; Taxation and Revenue - Sales and Use
Type: Original
Date: February 25, 2008
Bill Summary: Would create a state and local sales and use tax exemption for defense articles sold to foreign governments.
FISCAL SUMMARY
ESTIMATED NET EFFECT ON GENERAL REVENUE FUND |
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FUND AFFECTED |
FY 2009 |
FY 2010 |
FY 2011 |
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Total Estimated Net Effect on General Revenue Fund |
$0 |
$0 |
$0 |
ESTIMATED NET EFFECT ON OTHER STATE FUNDS |
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FUND AFFECTED |
FY 2009 |
FY 2010 |
FY 2011 |
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Total Estimated Net Effect on Other State Funds |
$0 |
$0 |
$0 |
Numbers within parentheses: ( ) indicate costs or losses.
This fiscal note contains 4 pages.
ESTIMATED NET EFFECT ON FEDERAL FUNDS |
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FUND AFFECTED |
FY 2009 |
FY 2010 |
FY 2011 |
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Total Estimated Net Effect on All Federal Funds |
$0 |
$0 |
$0 |
ESTIMATED NET EFFECT ON FULL TIME EQUIVALENT (FTE) |
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FUND AFFECTED |
FY 2009 |
FY 2010 |
FY 2011 |
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Total Estimated Net Effect on FTE |
0 |
0 |
0 |
☐ Estimated Total Net Effect on All funds expected to exceed $100,000 savings or (cost).
☐ Estimated Net Effect on General Revenue Fund expected to exceed $100,000 (cost).
ESTIMATED NET EFFECT ON LOCAL FUNDS |
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FUND AFFECTED |
FY 2009 |
FY 2010 |
FY 2011 |
Local Government |
$0 |
$0 |
$0 |
FISCAL ANALYSIS
ASSUMPTION
Officials from the Office of Administration, Division of Budget and Planning, the Department of Economic Development, the Department of Public Safety, Missouri National Guard, and St. Louis County assume this proposal would have no fiscal impact on their organizations.
Officials from the Department of Revenue (DOR) assume this proposal would have no fiscal impact on their organization. DOR officials stated that defense articles sold to foreign governments are currently exempt from sales tax based on a DOR Director's letter ruling.
Oversight assumes this proposal would have no fiscal impact since it creates a statutory sales tax exemption for items currently exempted by administrative action.
Officials from the City of Clayton did not respond to our request for information.
FISCAL IMPACT - State Government |
FY 2009 (10 Mo.) |
FY 2010 |
FY 2011 |
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$0 |
$0 |
$0 |
FISCAL IMPACT - Local Government |
FY 2009 (10 Mo.) |
FY 2010 |
FY 2011 |
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|
|
|
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$0 |
$0 |
$0 |
FISCAL IMPACT - Small Business
No direct fiscal impact to small businesses would be expected as a result of this proposal.
FISCAL DESCRIPTION
This proposal would create a statutory state and local sales and use tax exemption which is already in place by letter ruling. The proposal would appear to have no fiscal impact.
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
Office of Administration
Division of Budget and Planning
Department of Economic Development
Department of Public Safety
Missouri National Guard
Department of Revenue
St. Louis County
NOT RESPONDING
City of Clayton
Mickey Wilson, CPA
Director
February 25, 2008