|Date Requested:January 12, 2011
Time Requested:05:04 PM
| FUND(S) |
Tourism Promotion Fund
Sources of Revenue
|Other Fund Video Lottery|
Legislation creates:Neither Program nor Fund
Effect this measure will have on costs and revenues of state government.
|HB 2254 will have a postive impact on tax revenues. Transferring the unused portion of the Courtesy Patrol Funds back to the Tourism Promotion Fund will make additional dollars available in the Tourism Promotion Fund which is the primary source of funding for the Matching Advertising Partnership Program (MAPP) that contributes to the overall economic impact of the State.|
|Effect of Proposal||Fiscal Year|
|1. Estmated Total Cost||0||0||0|
|Repairs and Alterations||0||0||0|
|2. Estimated Total Revenues||0||0||0|
3. Explanation of above estimates (including long-range effect):
Under the current legislation the Tourism Promotion Fund must transfer $4,700,000 each year to the Courtesy Patrol Fund. As a result, the Courtesy Patrol Fund has accumulated a surplus. HB 2254 will allow the unused balance remaining in the Courtesy Patrol Fund to be transferred back to the Tourism Promotion Fund at the end of each fiscal year. This will in effect decrease the cost to the Tourism Promotion Fund by $1,800,000 in FY 2011 (a balance which has been accumulating in the Couresty Patrol Fund since FY 2008) and $460,650 for FY 2012 and each subsequent fiscal year thereafter.