Fiscal Note - State of Utah - 2014 General Session
HB0266 - Motor Fuel and Special Fuel Tax Rate Indexing Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may increase revenue to the Transportation Fund by $4,390,000 in FY 2015 and by $8,888,000 in FY 2016. Revenues would continue to increase annually by the Chained Urban CPI.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| Transportation Fund | $0 | $8,888,000 | $8,888,000 |
| Transportation Fund, One-time | $0 | ($4,498,000) | $0 |
| Total Revenue | $0 | $4,390,000 | $8,888,000 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $4,390,000 | $8,888,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Local transportation fund revenues could increase by $1,317,000 in FY 2015 and by $2,666,400 in FY 2016 as locals receive 30 percent of the increased gas tax revenue for B & C roads.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Individuals and businesses could see an increase in taxes paid for motor and special fuel of $0.003 per gallon in FY 2015 and $0.006 per gallon in FY 2016. There could be a corresponding increase in certified natural gas and liquified natural gas taxes of $0.001 per gallon equivalent in FY 2015 and $0.002 in FY 2016.
Performance Note Required? (Joint Rule 4-2-404): No
| 1/21/2014, 3:09:01 PM, Lead Analyst: Wilko, A./Attny: SCH | Office of the Legislative Fiscal Analyst |