Fiscal Note

HB0134S02 - School and Institutional Trust Lands Amendments

State Impact:
Enactment of this bill would reduce revenues to the Mineral Lease Account, the Constitutional Defense Restricted Account, the Rural Electronic Commerce Fund, the Permanent Community Impact Fund, and the Rural Development Fund, by an estimated combined amount of $3,898,400 beginning in FY 2008. There would be a corresponding revenue increase in the Land Exchange Distribution Account, a new General Fund restricted account created by this bill. In the aggregate the bill is revenue neutral. As specified in the bill, these funds are appropriated from the new Land Exchange Distribution Account as follows: $3,118,700 to the Division of Finance for distritubion to applicable counties, $65,500 to the State Board of Education, $357,100 to the Utah Geological Survey ($292,400 for hydrological studies in the west Utah desert and $64,700 for natural resource development), $64,700 to the Utah State University water lab, and $292,400 to the Constitutional Defense Restricted Account.

Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for individuals, businesses, or local governments.