Colorado Legislative Council Staff
STATE and LOCAL
REVISED FISCAL NOTE
(Replaces Fiscal Note dated January 31, 1998)
General Fund Revenue Impact
Cash Fund Expenditure Impact
Local Government Revenue Impact
Drafting Number: Prime Sponsor(s): |
LLS 98-664 Rep. Grampsas |
Date: Bill Status: Fiscal Analyst: |
April 14, 1998 House 2nd Reading Harry Zeid (866-4753) |
TITLE: CONCERNING THE PROVISION OF ADDITIONAL REVENUE TO MUNICIPAL GOVERNMENTS TO MEET EXPENSES NECESSITATED BY THE ADVENT OF LIMITED GAMING.
Summary of Legislation
STATE FISCAL IMPACT SUMMARY |
FY 1998/99 |
FY 1999/2000 |
State Revenues General Fund (reduction) Municipal Limited Gaming Impact Fund |
($3,000,000) $3,000,000 |
($3,000,000) $3,000,000 |
State Expenditures General Fund Municipal Limited Gaming Impact Fund |
$3,000,000 |
$3,000,000 |
FTE Position Change |
None |
None |
Local Government Impact — The bill will allocate an additional $3 million annually for two years to the Municipal Limited Gaming Impact Fund for distribution of $1 million each to Central City, Black Hawk, and Cripple Creek. |
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The bill, as amended by the House Appropriations Committee (House Journal, April 13, 1998, pp. 1276 - 1277), would require that out of the fifty percent share of limited gaming proceeds that are currently available to be transferred to the state General Fund, or other such funds as the General Assembly may provide, an additional $3 million annually during FY 1998-99 and FY 1999-00 would be transferred to the Municipal Limited Gaming Impact Fund. From this additional transfer to the Municipal Limited Gaming Impact Fund, $1 million would be distributed to the governing bodies of Central City, Black Hawk, and Cripple Creek for the purpose of compensating the municipalities for various expenses incurred in response to limited gaming.
The bill would reduce the amount of moneys from limited gaming proceeds that would otherwise be available for transfer to the General Fund. The bill would increase the money available for distribution from the Municipal Limited Gaming Impact Fund by the same amount. Therefore, the bill is assessed as having state and local fiscal impact. The bill would become effective upon signature of the Governor.
State Revenues
The bill would reduce the amount of moneys that would otherwise be available to the state General Fund by $3 million annually in FY 1998-99 and in FY 1999-00. The Municipal Limited Gaming Impact Fund would be increased by a corresponding amount.
State Expenditures
The bill would make an additional $3 million available from the Municipal Limited Gaming Impact Fund in FY 1998-99 and in FY 1999-00 for distribution to the governing bodies of Central City, Black Hawk, and Cripple Creek for the purpose of compensating the municipalities for various expenses incurred in response to limited gaming.
Local Government Impact
Currently, the governing bodies of Central City, Black Hawk, and Cripple Creek are not eligible to receive distributions from the Municipal Limited Gaming Impact Fund. The bill would make an additional $3 million available to the Fund, of which, $1 million would be distributed to each of the three cities to be used for various expenses incurred in response to limited gaming.
Spending Authority
The fiscal note would imply that the Municipal Limited Gaming Impact Fund will require an additional appropriation of $3 million in FY 1998-99 to implement the provisions of the bill.
Departments Contacted
Revenue