Fiscal Note - State of Utah - 2014 General Session
SB0111 - Education Funding Equalization
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill increases revenue to the Minimum Basic Growth Account by $44 million in FY 2015 and $46 million in FY 2016.
| State Budget Detail Table | FY 2014 | FY 2015 | FY 2016 |
| Revenue: | |||
| Uniform School Fund Restricted | $0 | $44,000,000 | $46,000,000 |
| Total Revenue | $0 | $44,000,000 | $46,000,000 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $44,000,000 | $46,000,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Upon appropriation, enactment of this bill may increase revenue to school districts by about $44 million in FY 2015 and about $46 million in FY 2016 as part of the School LAND Trust Program.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Individuals and businesses will see a tax increase of about $44 million in FY 2015 and about $46 million in FY 2016. The change represents an increase in tax liability of about $29 for a $250,000 home or about $214 on $1 million business property.
Performance Note Required? (Joint Rule 4-2-404): No
| 1/10/2014, 3:56:27 PM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |