| Committee: Ways and Means Education | Sponsor: Givhan |
| Analyst: Daniel Davenport | Date: 03/03/2021 |
FISCAL NOTE
Senate Bill 40 as amended and reported by the Committee on Ways and Means Education exempts the Alabama School of Fine Arts Foundation, Incorporated, the Alabama High School of Mathematics and Science Foundation, the Alabama Institute for Deaf and Blind Foundation, Inc., and the Alabama School of Cyber Technology and Engineering Foundation from paying any state, county, and municipal sales and use taxes beginning January 1, 2021. Based on historical data, this bill would decrease sales and use tax receipts to the following funds by the following estimated amounts annually for the entities listed:
| Fund | Alabama School of Fine Arts Foundation | Alabama High School of Mathematics and Science Foundation | Alabama Institute for Deaf and Blind Foundation, Inc. |
| Education Trust Fund | $2,240 | $7,600 | $2,640 |
| County Funds | $560 | $2,850 | $1,980 |
| Municipal Funds | $2,240 | $9,500 | $3,300 |
| Total | $5,040 | $19,950 | $7,920 |
Further, based on information provided, this bill would decrease sales and use tax receipts to the following funds by the following estimated amounts for the Alabama School of Cyber Technology and Engineering Foundation due to an ongoing capital project:
| Education Trust Fund | $460,000 |
| County Funds | $57,500 |
| Municipal Funds | $517,500 |
| Total | $1,035,000 |
| Bill Poole, Chair Ways and Means Education |