Fiscal Note - State of Utah - 2014 General Session
SB0012 - Age Limit for Tobacco and Related Products
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill reduces ongoing tax revenue to the General Fund by about $2.7 million beginning in FY 2015 due to decreased tobacco and related product sales.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| General Fund | $0 | ($2,665,000) | ($2,665,000) |
| Total Revenue | $0 | ($2,665,000) | ($2,665,000) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($2,665,000) | ($2,665,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($2,665,000) | ($2,665,000) |
Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill will likely reduce ongoing sales tax revenue to local governments of about $175,000 beginning in FY 2015.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Through provisions of this bill, approximately 4,700 individuals forgo purchasing tobacco and related products saving about $600/person/year for a total of $2.8 million in savings in local and state taxes.
Performance Note Required? (Joint Rule 4-2-404): No
| 1/9/2014, 3:29:17 PM, Lead Analyst: Syphus, G./Attny: SJ | Office of the Legislative Fiscal Analyst |