Fiscal Note - State of Utah - 2014 General Session
HB0138 - Underground Petroleum Storage Tank Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could increase revenue to state by $1.80 million in FY 2015 and by $2.07 million in FY 2016 due to changes in fees and definitions related to underground storage tanks. This revenue could be offset by risk-based rebates of approximately $1.43 million that the Deparment of Environmental Quality will provide to low-risk underground storage tank operators. This bill also transfers balances of $5.95 million from the Petroleum Storage Tank Loan Fund and the Petroleum Damage Fund to the Petroleum Storage Tank Trust Fund.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| Dedicated Credits | $0 | $64,500 | $339,500 |
| Restricted Funds | $0 | ($5,949,700) | $0 |
| Trust & Agency Funds | $0 | $5,949,700 | $0 |
| Trust & Agency Funds | $0 | $1,732,000 | $1,732,000 |
| Total Revenue | $0 | $1,796,500 | $2,071,500 |
| Expenditure: | |||
| Trust & Agency Funds | $0 | $1,429,000 | $1,429,000 |
| Total Expenditure | $0 | $1,429,000 | $1,429,000 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $367,500 | $642,500 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill could increase the amount of fees that local governments pay for their underground storage tanks by approximately $48,400 per year; $14,900 could be offset by risk-based rebates. The net effect would be $33,500 per year.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill could increase the amount of fees that businesses pay for their underground storage tanks by approximately $1.67 million per year; $1.40 million could be offset by risk-based rebates. The net effect would be $265,300 per year.
Performance Note Required? (Joint Rule 4-2-404): No
| 2/21/2014, 11:44:24 AM, Lead Analyst: Oh, A./Attny: RF | Office of the Legislative Fiscal Analyst |