LEGISLATIVE FISCAL ESTIMATE TO

[First Reprint]

ASSEMBLY, No. 464

STATE OF NEW JERSEY

DATED: June 5, 1996

      Assembly Bill No. 464 (1R) of 1996 establishes a toll-free telephone information line within the Division of Development for Small Businesses and Women's and Minority Businesses in the Department of Commerce and Economic Development to provide the public with information regarding entrepreneurial or business assistance programs available to small businesses from various public agencies and private businesses.

      The Office of Legislative Services (OLS) estimates that enactment of the bill will have no fiscal impact on the State budget, since the bill directs the department to utilize available State or federal resources or to solicit private contributions in order to establish the telephone information line; however, the OLS notes that the Governor's Budget Recommendation does not anticipate any federal funds for economic development in FY 1997, and it is not clear whether any State or federal funds would be available for this project in the current fiscal year, FY 1996.

      The OLS further notes that the bill also permits the division to assess a fee on any private business that wishes to have information regarding the division's small business assistance programs available through the toll-free information line, but the OLS is unable to estimate the amount of revenue which might be generated from such fees.

      This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.