Fiscal Note - State of Utah - 2013 General Session

HB0380 - Economic Development Revisions

State Government (UCA 36-12-13(2)(b)):
Enacting this bill creates a tax credit for any commercial project over one billion dollars in capital expenditures. Depending upon timing, the credit may forgo up to $18 million in Education Fund revenue over a ten year period.

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Depending on the timing, enacting this bill may decrease the amount of taxes paid by eligible businesses by up to $18,000,000 over a ten year period.

Performance Note Required? (Joint Rule 4-2-404): No