Fiscal Note - State of Utah - 2013 General Session
SB0033 - Sales and Use Tax Revisions
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill reduces sales tax revenue by $1,773,900 in FY 2014 and $1,854,100 in FY 2015. Of the sales tax revenue, 57.6% is deposited in the General Fund, 1.3% is deposited in General Fund Restricted, 1.3% is deposited in the Transportation Fund, and 39.7% is deposited in Transportation Fund Restricted.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue: | |||
| General Fund | $0 | ($1,068,800) | ($1,068,800) |
| General Fund, One-Time | $0 | $46,200 | $0 |
| General Fund Restricted | $0 | ($23,600) | ($24,700) |
| Transportation Fund | $0 | ($24,700) | ($24,700) |
| Transportation Fund, One-time | $0 | $1,100 | $0 |
| Transportation Fund Restricted | $0 | ($704,100) | ($735,900) |
| Total Revenue | $0 | ($1,773,900) | ($1,854,100) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($1,773,900) | ($1,854,100) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($1,022,600) | ($1,068,800) |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill reduces local government sales tax revenue by $754,800 in FY 2014 and $788,800 in FY 2015.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Eligible businesses and individuals will see a tax liability decrease of $2,528,600 in FY 2014 and $2,642,900 in FY 2015.
Performance Note Required? (Joint Rule 4-2-404): No
| 1/17/2013, 2:25:24 PM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |