Fiscal Note - State of Utah - 2013 General Session
HB0225 - Income Tax Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could increase revenue to the Education Fund by $54,852,000 in FY 2014 and by $113,819,000 in FY 2015.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue: | |||
| Education Fund | $0 | $113,819,000 | $113,819,000 |
| Education Fund, One-Time | $0 | ($58,967,000) | $0 |
| Total Revenue | $0 | $54,852,000 | $113,819,000 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $54,852,000 | $113,819,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $54,852,000 | $113,819,000 |
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)):
An estimated 24,337 returns will experience a tax increase based on the provisions of the bill and an estimated 652 estates are estimated to experience a tax increase. The increase will be dependent upon the taxable income of the individual filers.
Performance Note Required? (Joint Rule 4-2-404): No
| 2/11/2013, 10:25:59 AM, Lead Analyst: Wilko, A./Attny: RLR | Office of the Legislative Fiscal Analyst |