This fiscal note contains 5 pages. These funds have been shown as a loss to General Revenue. The proposal would be on the ballot for the November 2002 general election.
Oversight notes that the resolution allows a special election to be called by the governor.
If a special election were called, the election costs could be realized in FY 2002, and the re-distribution of motor vehicle sales taxes could be effective earlier. The Department of Revenue assumes no fiscal impact as a result of this proposal. No direct fiscal impact to small businesses would be expected as a result of this proposal. Currently, half of the proceeds from the state sales tax on all motor vehicles, trailers, motorcycles, mopeds, and motortricycles are dedicated for highway and transportation use. This legislation is not federally mandated, would not duplicate any other program and would not require additional capital improvements or rental space.