Fiscal Note
HB0445 - Utah Housing Opportunity Special Group License Plate
State Impact:
Enactment of this bill will require a one-time appropriation of $8,200 from dedicated credits to the Division of Motor Vehicles for set-up and production costs, based on an initial order of 500 sets of 3-color plates. Restricted fund revenue of $15,000 is anticipated, which will be deposited in a new Housing Opportunity Restricted Account in the General Fund and appropriated to the Division of Real Estate to be distributed among charitable organizations as defined in the bill.
| Funding Source | FY 2007 Approp. | FY 2008 Approp. | FY 2009 Approp. | FY 2007 Revenue | FY 2008 Revenue | FY 2009 Revenue |
| General Fund Restricted | $0 | $15,000 | $15,000 | $0 | $15,000 | $15,000 |
| Dedicated Credits | $0 | $8,200 | $0 | $0 | $8,200 | $0 |
| Total | $0 | $23,200 | $15,000 | $0 | $23,200 | $15,000 |
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. Individuals wishing to obtain the special group license plates must pay a $5 per plate new plate fee and contribute a $30 per year to the Utah Housing Opportunity Restricted Account. The Division of Real Estate is to distribute these funds to organizations that provide affordable housing, as defined in the bill.
| 2/14/2007, 3:28:40 PM, Lead Analyst: Tennert, J. | Office of the Legislative Fiscal Analyst |