Fiscal Note - State of Utah - 2013 General Session
HB0096 - Cleaner Burning Fuels Tax Credits Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could decrease revenue to the Education Fund by $701,000 beginning in FY 2014 and by $2,301,000 in FY 2015.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue: | |||
| Education Fund | $0 | ($2,301,000) | ($2,301,000) |
| Education Fund, One-Time | $0 | $1,600,000 | $0 |
| Total Revenue | $0 | ($701,000) | ($2,301,000) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($701,000) | ($2,301,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($701,000) | ($2,301,000) |
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 could increase income tax for certain individuals currently eligible for the credits due to increased gas mileage standards. The aggregate impact for these individuals is $548,900. Enactment of this bill could also decrease tax paid by certain individuals converting their vehicles to natural gas. The aggregate impact is estimated at $1,250,000. Individuals currently receiving credits under the exemption would continue to benefit in the aggregate amount of $1,600,000.
Performance Note Required? (Joint Rule 4-2-404): No
| 2/6/2013, 10:19:30 AM, Lead Analyst: Wilko, A./Attny: RLR | Office of the Legislative Fiscal Analyst |