Honorable Craig Estes, Chair, Senate Committee on Natural Resources & Economic Development
FROM:
Ursula Parks, Director, Legislative Budget Board
IN RE:
SB694 by Buckingham (Relating to the creation of the National Museum of the Pacific War museum fund.), As Introduced
Estimated Two-Year Net Impact to General Revenue Related Funds: a negative impact of ($2,704,000) through the biennium ending August 31, 2019.
A like amount would be deposited to a new fund outside of the treasury.
The bill would make no appropriation but could provide the legal basis for an appropriation of funds to implement the provisions of the bill.
Fiscal Year
Probable Net Positive/(Negative) Impact to General Revenue Related Funds
2018
($1,352,000)
2019
($1,352,000)
2020
($1,352,000)
2021
($1,352,000)
2022
($1,352,000)
Fiscal Year
Probable Revenue (Loss) from General Revenue Fund 1
Probable Revenue Gain from National Museum of the Pacific War Museum Fund
2018
($1,352,000)
$1,352,000
2019
($1,352,000)
$1,352,000
2020
($1,352,000)
$1,352,000
2021
($1,352,000)
$1,352,000
2022
($1,352,000)
$1,352,000
Fiscal Analysis
The bill would amend the Government Code to create the National Museum of the Pacific War Museum Fund outside the state treasury. The fund would consist of admissions revenue from the museum and donations made for the museum. Under provisions of the bill, money in the fund could be spent without appropriation to manage and support the museum. Interest and income from fund assets would be credited and deposited to the fund.
The bill would take effect immediately if it receives a vote of two-thirds of all the members elected to each house or on September 1, 2017.
Methodology
This analysis assumes the bill would create a fund outside of the Treasury, the National Museum of the Pacific War Museum Fund. Based on the 2018-2019 Biennial Revenue Estimate, $1,352,000 from state parks fee collections in each fiscal year would be deposited to the new fund. Under current law, those amounts are deposited to the General Revenue Fund. The annual decrease of $1,352,000 to General Revenue is projected to continue in subsequent fiscal years following the 2018-19 biennium.
This legislation would do one or more of the following: create or recreate a dedicated account in the General Revenue Fund, create or recreate a special or trust fund either with or outside of the Treasury, or create a dedicated revenue source. The fund, account, or revenue dedication included in this bill would be subject to funds consolidation review by the current Legislature.
Based on information provided by the Historical Commission and the Comptroller of Public Accounts, this analysis assumes that any administrative duties and responsibilities associated with implementing the provisions of the bill could be absorbed using existing resources.
Local Government Impact
No fiscal implication to units of local government is anticipated.
Source Agencies:
304 Comptroller of Public Accounts, 808 Historical Commission