Fiscal Note - State of Utah - 2014 General Session
HB0074S01 - Energy Efficient Vehicle Tax Credits
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could decrease revenue to the Education Fund by $1,300,000 in FY 2016. A transfer from the General Fund will offset the Education Fund decrease for all but $500,000 of the total.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| General Fund, One-Time | $0 | ($800,000) | ($800,000) |
| General Fund, One-Time | $0 | $800,000 | $0 |
| Education Fund, One-Time | $0 | ($1,300,000) | ($1,300,000) |
| Education Fund, One-Time | $0 | $1,300,000 | $800,000 |
| Total Revenue | $0 | $0 | ($1,300,000) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $0 | ($1,300,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | ($1,300,000) |
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 1,585 taxpayers could see a reduction in income tax of up to $1,500 each. Approximately 630 taxpayers currently eligible but eliminated by the provisions of the bill could see an increase in income taxes of up to $2,500.
Performance Note Required? (Joint Rule 4-2-404): No
| 3/11/2014, 3:21:01 PM, Lead Analyst: Wilko, A./Attny: RLR | Office of the Legislative Fiscal Analyst |