Fiscal Note - State of Utah - 2013 General Session

SB0171 - Sales and Use Tax Exemption for Electronic Financial Payment Services

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may reduce total sales tax revenue by $42,000 in FY 2014 and $43,000 in FY�2015, of which $25,000 (FY 2014) and $26,000 (FY 2015) is General Fund and $17,000 (FY�2014 and FY 2015) is transportation and water related.

State Budget Detail TableFY 2013FY 2014FY 2015
Revenue:   
General Fund$0($26,000)($26,000)
General Fund, One-Time$0$1,000$0
Restricted Funds$0($17,000)($17,000)
   Total Revenue$0($42,000)($43,000)
    
Expenditure$0$0$0
    
Net Impact, All Funds (Rev.-Exp.)$0($42,000)($43,000)
   Net Impact, General/Education Funds (Rev.-Exp.)$0($25,000)($26,000)

Local Governments (UCA 36-12-13(2)(c)):
Local taxing entities may see a decrease in sales tax revenue of $19,000 in FY 2014 and FY�2015.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Individuals and businesses may see a decrease in their sales tax burden by $61,000 in FY 2014 and $62,000 in FY 2015.

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

2/12/2013, 10:20:43 AM, Lead Analyst: Young, T./Attny: RLROffice of the Legislative Fiscal Analyst