Fiscal Note - State of Utah - 2013 General Session

SB0106 - Unemployment Tax Amendment

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill will reduce revenue to the Unemployment Compensation Fund by $7,885,000 in FY 2013 and $15,010,000 in FY 2014.

State Budget Detail TableFY 2013FY 2014FY 2015
Revenue:   
Restricted Funds($7,885,000)($15,010,000)$0
   Total Revenue($7,885,000)($15,010,000)$0
    
Expenditure$0$0$0
    
Net Impact, All Funds (Rev.-Exp.)($7,885,000)($15,010,000)$0
   Net Impact, General/Education Funds (Rev.-Exp.)$0$0$0

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)):
Employers will have a Calendar Year 2013 tax liability reduction amounting to $22.9 million resulting from a one-time lowering of the minimum rate. The bill likely will not result in direct expenditure for individuals.

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

1/17/2013, 2:15:40 PM, Lead Analyst: Jardine, S./Attny: PLAOffice of the Legislative Fiscal Analyst