Fiscal Note - State of Utah - 2014 General Session

HB0391S01 - Tangible Personal Property Tax Exemption Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill likely will not materially impact the state budget.

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill could result in a shift of $13.9 billion in taxable value from business personal property in the counties to other taxable property types. .

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill could result in a shift in property taxes paid from those with business personal property to other property types. Total shift will depend upon the types of property owned.

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