Fiscal Notes for SB0027




		Fiscal Note SB0027 - Sales and Use Tax Exemption for Mining Establishments

State Impact:
Passage of this bill could result in a General Fund loss of $17,500,000 annually and a loss of local revenues of $5,538,000 annually. The Tax Commission will require an apppropriation of $12,200 to implement the provisions of the bill.

Funding Source	FY 02 Approp.	FY 03 Approp.	FY 02 Revenue	FY 03 Revenue
General Fund	$12,200	$0	($17,500,000)	($17,500,000)
Local Revenue	$0	$0	($5,538,000)	($5,538,000)
TOTAL	$12,200	$0	($23,038,000)	($23,038,000)

Individual and Business Impact:
Passage of this bill will allow mining establishments to qualify for a tax break on equipment purchases.

Office of the Legislative Fiscal Analyst
1/16/2001 1:29:18 PM

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Last Revised: 30 August, 2000