Fiscal Note
HB0304 - Reduction in State Sales and Use Tax Rate on Food and Food Ingredients
State Impact:
Enactment of this bill will reduce the General Fund by $31,200,000 in FY 2009 and by $32,150,000 in FY 2010.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| General Fund | $0 | $0 | $0 | $0 | ($31,200,000) | ($32,150,000) |
| Total | $0 | $0 | $0 | $0 | ($31,200,000) | ($32,150,000) |
Individual, Business and/or Local Impact:
Enactment of this bill will reduce the sales tax paid on food by .75 percent. Individual impact will depend on total food purchases in a given year.
| 1/25/2008, 10:41:31 AM, Lead Analyst: Wilko, A. | Office of the Legislative Fiscal Analyst |