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Download Zipped Introduced WP 6.1 SB0071.zip
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The provisions of this bill will require increased appropriations to State agencies in the Utah Retirement System by up to 4 percent of the existing salary base. It is estimated that 85 percent of eligible employees would take maximum advantage of this improved benefit at a cost of $36,053,600 in FY 2001. This would be offset by $2,758,100 savings from State paid FICA. The net is $33,295,500. There would also be an estimated loss of $572,300 in sales tax revenue (including $143,100 to local governments). The FY 2002 estimates are increased by approximately 5 percent.

FY 01 Approp. FY 02 Approp. FY 01 Revenue FY 02 Revenue
General Fund $19,223,700 $20,184,900 ($429,200) ($450,700)
Uniform School Fund $2,153,500 $2,261,200 $0 $0
Transportation Fund $1,692,900 $1,777,500 $0 $0
Federal Funds $3,772,000 $3,960,600 $0 $0
Dedicated Credits Revenue $4,213,400 $4,424,100 $0 $0
Transfers $722,200 $758,300 $0 $0
Restricted Funds $144,100 $151,300 $0 $0
Trust Funds $548,600 $576,000 $0 $0
Local Revenue $0 $0 ($143,100) ($150,300)
Uniform Sch. Fund -Restr. $1,000 $1,100 $0 $0
GF Restrict Mineral Lease $22,300 $23,400 $0 $0
GF Restricted $801,800 $841,900 $0 $0
TOTAL $33,295,500 $34,960,300 ($572,300) ($601,000)

Office of the Legislative Fiscal Analyst

2/2/00 10:55:58 AM

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