LFA Home Page Picture

Download Zipped Introduced WP 6.1 SB0273S1.zip
[Back to the Bills Directory] [Back to the Fiscal Note Directory]

Passage of this bill will authorize the issuance of general obligation bonds up to $6,000,000, for Highway Improvement Funding. The estimated annual interest payments of $300,000 will be paid as a project cost within the $6,000,000 bond limitation. The bonds may not be issued until a developer whose projects benefits from the improvements accepts liability for project costs and provides certainty that the new development will generate at least $6,000,000 in new tax revenue. The new revenues will be used to repay the debt, rather than accrue to the General Fund. Based on the construction of a large sales tax generating development, the state can expect at least $4.2 million in new sales tax revenue from construction. Additional sales tax revenue of at least $2.1 million would arise from increased retail sales.

FY 01 Approp. FY 02 Approp. FY 01 Revenue FY 02 Revenue
General Fund $300,000 $300,000 $0 $0
TOTAL $300,000 $300,000 $0 $0

Office of the Legislative Fiscal Analyst

3/1/00 8:14:03 PM

Line

[Home] [Notes] [Reports] [Appropriations] [Who's Who] [About Us]

[State of Utah Home Page |Legislature Home Page |Legislative Fiscal Analyst Home Page ]