FISCAL NOTE

House Bill 341 as introduced proposes a constitutional amendment that, if ratified, could decrease potential receipts to the Public School Fund, State General Fund, the Department of Human Resources, Alabama Veterans' Assistance Fund, county and municipal funds by an undetermined amount dependent upon the ad valorem taxes not assessed in any given tax year due to the 3% annual increase cap set by this constitutional amendment.

This bill could also increase the administrative obligations of county tax assessing officials to implement the provisions of this bill.

This bill would increase the proclamation expense of the Governor, paid from the State General Fund, by an estimated $100,000 for the fiscal year ending September 30, 2023.