|Date Requested:February 18, 2011
Time Requested:02:30 PM
| FUND(S) |
Sources of Revenue
Legislation creates:A New Fund
Effect this measure will have on costs and revenues of state government.
| The Municipal Pensions Oversight Board can better address the overall costs and revenues of the proposal.
This response is limited to the fiscal impact of the proposal redirecting the ten percent of the additional premium tax and surplus lines tax previously authorized to be paid to the Teachers Retirement System Reserve Fund to the Municipal Pensions Security Fund for three years beginning July 1, 2011.
This proposal will redirect approximately $2.5 million in annual collections or approximately $7.5 million for the aggregate three years.
|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):