Fiscal Note - State of Utah - 2013 General Session
SB0237 - Taxation of Short-term Lodging
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may increase sales tax assessments by $2.17 million in FY 2014 and $2.32 million in FY 2015. Because of nexus issues, only a portion of the increased sales tax assessments may be collectible. The anticipated revenue increase is $430,000 in FY 2014 and $465,000 in FY 2015. Under current law, a portion of sales tax revenue is set aside for transportation and other purposes. The set-aside would be approximately $182,000 in FY 2014 and $197,000 in FY 2015 of the revenue generated by this bill.
| State Budget Detail Table | FY 2013 | FY 2014 | FY 2015 |
| Revenue: | |||
| General Fund | $0 | $268,000 | $268,000 |
| General Fund, One-Time | $0 | ($20,000) | $0 |
| Restricted Funds | $0 | $182,000 | $197,000 |
| Total Revenue | $0 | $430,000 | $465,000 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $430,000 | $465,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $248,000 | $268,000 |
Local Governments (UCA 36-12-13(2)(c)):
Local taxing entities may see increased sales tax and transient room tax revenue of approximately $412,000 in FY 2014 and $441,000 in FY 2015 based upon assessments of $2.06 million in FY 2014 and $2.21 million in FY 2015.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Depending on nexus, businesses may see increased sales tax assessments of up to $4.2 million in
FY 2014 and $4.5 million in FY 2015, of which approximately $842,000 in FY 2014 and $906,000 in
FY 2015 could be an actual increase in sales tax liability.
Performance Note Required? (Joint Rule 4-2-404): No
| 3/4/2013, 11:06:08 AM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |