Fiscal Note - State of Utah - 2013 General Session
HB0197 - Earned Income Tax Credit and Related Funding
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could reduce the Education Fund by $21,500,000 in FY 2014 and by $22,500,000 in FY 2015. The revenue reduction will be offset by a transfer from the General Fund equal to the credits claimed.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue: | |||
| General Fund | $0 | ($22,500,000) | ($22,500,000) |
| General Fund, One-Time | $0 | $1,000,000 | $0 |
| Education Fund | $0 | $21,500,000 | $22,500,000 |
| Education Fund | $0 | ($21,500,000) | ($22,500,000) |
| Total Revenue | $0 | ($21,500,000) | ($22,500,000) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($21,500,000) | ($22,500,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($21,500,000) | ($22,500,000) |
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 provide an estimated 191,900 taxpayers an average benefit of approximately $112 in beginning in FY 2014.
Performance Note Required? (Joint Rule 4-2-404): No
| 2/11/2013, 12:15:38 PM, Lead Analyst: Wilko, A./Attny: RLR | Office of the Legislative Fiscal Analyst |