Fiscal Note - State of Utah - 2013 General Session

SB0267 - New convention Hotel Development Incentive Act

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may forgo about $2.9 million in FY 2015 sales tax revenue and around $75 million over the life of the tax credit (construction and occupancy).

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)):
Enactment of this bill may reduce, for eligible businesses, what would have potentially been sales tax liability of $2.9 million in FY 2015 and $75 million over the life of the credit.

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