Fiscal Note

SB0242S02 - Tax Revisions

State Impact:
Passage of this bill could result in a loss to the Uniform School Fund of $27,976,000 in FY 2007 a loss of $65,614,000 in FY 2008. There is also a potential loss of restricted revenues of approximately $300,000 annually. The Tax Commission would require an appropriation of $233,000 from the Uniform School Fund to implement the provisions of the bill.

Funding SourceFY 2007
Approp.
FY 2008
Approp.
FY 2007
Revenue
FY 2008
Revenue
Uniform School Fund$0$0($27,976,000)($65,614,000)
Uniform School Fund, One-$233,000$0$0$0
Restricted Funds$0$0($300,000)($300,000)
   Total
$233,000

$0

($28,276,000)

($65,914,000)

Individual and Business Impact:
There is a potential shift in tax burden among taxpayers.


Office of the Legislative Fiscal Analyst
3/1/2006, 7:51:56 PM