Fiscal Note - State of Utah - 2013 General Session

SB0033S01 - Sales and Use Tax Revisions

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill reduces sales tax revenue by $146,000 in FY 2014 and $154,100 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 TableFY 2013FY 2014FY 2015
Revenue:   
General Fund$0($88,800)($88,800)
General Fund, One-Time$0$4,800$0
Restricted Funds$0($62,000)($65,300)
   Total Revenue$0($146,000)($154,100)
    
Expenditure$0$0$0
    
Net Impact, All Funds (Rev.-Exp.)$0($146,000)($154,100)
   Net Impact, General/Education Funds (Rev.-Exp.)$0($84,000)($88,800)

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill reduces local government sales tax revenue by $62,500 in FY 2014 and $66,000 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 $208,500 in FY 2014 and $220,100 in FY 2015.

Performance Note Required? (Joint Rule 4-2-404): No

3/11/2013, 9:06:33 AM, Lead Analyst: Young, T./Attny: RLROffice of the Legislative Fiscal Analyst