Fiscal Note - State of Utah - 2013 General Session
HB0411 - Public Transit Funding Amendments
State Government (UCA 36-12-13(2)(b)):
Enacting this bill diverts $90,000,000 of Sales Tax revenue currently designated for deposit into the Transportation Investment Fund (TIF) of 2005 to the newly created Community Clean Air Public Transit Fund for use in transit related loans or grants. Of the $90,000,000, the following amounts are currently committed to paying state bond obligations: $75,000,000 in FY 2014 and $29,000,000 in FY�2015.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue: | |||
| Transportation Fund Restricted | $0 | ($90,000,000) | ($90,000,000) |
| Restricted Funds | $0 | $90,000,000 | $90,000,000 |
| Total Revenue | $0 | $0 | $0 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $0 | $0 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Provisions of the bill allow local transit districts to increase mass transit taxes by increasing tax rates. It is estimated if all local governments accept the maximum increase allowed by this bill those local transit districts would collect an additional $72,500,000 per year.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill likely will result in direct, measurable expenditures by Utah residents or businesses by up to $72,500,000.
Performance Note Required? (Joint Rule 4-2-404): No
| 3/12/2013, 10:37:53 AM, Lead Analyst: Bleazard, M./Attny: SCH | Office of the Legislative Fiscal Analyst |