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Fiscal Note

HB0127 - Individual Income Tax Deduction for Net Capital Gain

State Impact:
Passage of this bill could result in a loss to the Uniform School Fund of $26,000,000 annually. The Tax Commission would require an appropriation of $27,400 in FY 2002 and an appropriation of $4,000 in FY 2003 to implement the provisions of the bill.

Funding Source FY 02
Approp.		 FY 03
Approp.		 FY 02
Revenue		 FY 03
Revenue
Uniform School Fund $27,400 $4,000 ($26,000,000) ($26,000,000)
TOTAL

$27,400

$4,000

($26,000,000)

($26,000,000)

Individual and Business Impact:
Taxpayers would receive a $1,000 tax break on a $100,000 capital gain.

Office of the Legislative Fiscal Analyst
2/1/2001 8:12:00 AM

Last Revised: 30 August, 2000

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