Fiscal Note - State of Utah - 2014 General Session
HB0173 - Motion Picture Company Incentive Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill would appropriate $6,793,700 to the Motion Picture Incentive Account and from the restricted account to the Film Commission. Beginning in FY 2016 Education Fund revenue could increase by $6,793,700 due to the repeal of the Motion Picture Tax Credit. Because current authorizations can be carried forward there is the potential that $19,120,000 in Education Fund credits could be claimed from FY 2016 through FY 2020 offsetting a portion of the Education Fund increase. The actual amounts per year will be dependent on the tax liability of existing claimants.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| General Fund Restricted | $0 | $6,793,700 | $6,793,700 |
| Education Fund | $0 | $6,793,700 | $6,793,700 |
| Education Fund, One-Time | $0 | ($6,793,700) | $0 |
| Total Revenue | $0 | $6,793,700 | $13,587,400 |
| Expenditure: | |||
| General Fund | $0 | $6,793,700 | $6,793,700 |
| General Fund Restricted | $0 | $6,793,700 | $6,793,700 |
| Total Expenditure | $0 | $13,587,400 | $13,587,400 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($6,793,700) | $0 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($6,793,700) | $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)):
Enactment of this bill likely will not result in direct, measurable expenditures by Utah residents or businesses.
Performance Note Required? (Joint Rule 4-2-404): No
| 3/6/2014, 8:05:06 AM, Lead Analyst: Wilko, A./Attny: PLA | Office of the Legislative Fiscal Analyst |