Fiscal Note - State of Utah - 2014 General Session

HB0162 - Asset Protection Trust Amendments

State Government (UCA 36-12-13(2)(b)):
Beginning FY 2015, enactment of this bill could increase revenue to the Commerce Service Fund by about $4,000 per year from registation fees. Beginning FY 2015, enactment of this bill could cost about $4,000 Commerce Service Fund to process and ensure compliance of trust registrations. In FY 2015, enactment of this bill could cost $8,000 Commerce Service Fund one-time in programming and start-up costs for the provisions of this bill. Commerce Service Fund spending affects the annual transfer to the General Fund.

State Budget Detail TableFY 2014FY 2015FY 2016
Revenue:   
General Fund, One-Time$0($8,000)$0
Commerce Service Fund$0$4,000$4,000
Commerce Service, One-time$0$8,000$0
   Total Revenue$0$4,000$4,000
    
Expenditure:   
Commerce Service Fund$0$4,000$4,000
Commerce Service, One-time$0$8,000$0
   Total Expenditure$0$12,000$4,000
    
Net Impact, All Funds (Rev.-Exp.)$0($8,000)$0
   Net Impact, General/Education Funds (Rev.-Exp.)$0($8,000)$0

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)):
Individuals could pay approximately $4,000 statewide in registration fees. Each registration fee could be about $22.

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

2/27/2014, 9:36:17 AM, Lead Analyst: King, Z./Attny: ECMOffice of the Legislative Fiscal Analyst