|
State Impact:
An appropriation of $161,200 for FY 2002 to the Department of Commerce is needed to implement the provisions of this bill. Funding for this is covered primarily from
increased revenue and shifting of funds from the repeal of the Boxing Commission. A portion of this appropriation is to cover estimated expenses to be incurred by the
Attorney General's Office.
Additional revenue is estimated to be generated for the General Fund Restricted - Commerce Service Fund and as Dedicated Credit Revenue. This could offset most of the
increased costs. The net appropriation increase from the Commerce Service Fund is estimated to be approximately $25,500. Appropriations from the Commerce Service Fund
affect the amount available for transfer to the General Fund.
| Funding Source |
FY 02
Approp. |
FY 03
Approp. |
FY 02
Revenue |
FY 03
Revenue |
|
Dedicated Credits Revenue
|
$35,000
|
$35,000
|
$35,000
|
$35,000
|
|
Commerce Service Fund
|
$126,200
|
$117,500
|
$80,700
|
$56,600
|
| TOTAL |
$161,200
|
$152,500
|
$115,700
|
$91,600
|
Individual and Business Impact:
Passage of this bill could increase the cost of event tickets to the public by at least $1.00 per ticket. It will also reduce revenue to promoters by four percent.
A portion of the additional cost to the public will result in a grants program to qualified organizations.
Office of the Legislative Fiscal Analyst
1/16/2001 1:29:01 PM
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