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 Source | FY 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