Fiscal Note
SB0223 - Tax Amendments
State Impact:
Enactment of this bill could reduce the Education Fund by $67,724,000 in FY 2008 and by $69,974,000 in FY 2009. There is a retroactive adjustment in FY 2008 of $16,931,000. The Tax Commission will require an appropriation of $36,400 to implement the provisions of the bill.
| Funding Source | FY 2007 Approp. | FY 2008 Approp. | FY 2009 Approp. | FY 2007 Revenue | FY 2008 Revenue | FY 2009 Revenue |
| Uniform School Fund | $0 | $36,400 | $36,400 | $0 | $0 | $0 |
| Education Fund | $0 | $0 | $0 | $0 | ($67,724,000) | ($69,974,000) |
| Education Fund, One-Time | $0 | $0 | $0 | $0 | ($16,931,000) | $0 |
| Total | $0 | $36,400 | $36,400 | $0 | ($84,655,000) | ($69,974,000) |
Individual, Business and/or Local Impact:
The individual impact related to the income tax changes will be dependent upon filing status, income levels, and deductions claimed.
| 2/2/2007, 11:08:42 AM, Lead Analyst: Wilko, A. | Office of the Legislative Fiscal Analyst |