Fiscal Note

HB0359S03 - Tax Changes

State Impact:
Enactment of this bill could reduce the General Fund by $958,000 for FY 2009 and by $1,958,000 in FY 2010. The Education Fund could decrease by $2,400,000 in FY 2009 and by $21,750,000 in FY 2010. Restricted Funds are expected to increase by $10,731,500 in FY 2009 and by $21,870,000 in FY 2010. Restricted Funds are earmarked for transportation chokepoints, and the Critical Needs Highway Fund.

Funding SourceFY 2008
Approp.		FY 2009
Approp.		FY 2010
Approp.		FY 2008
Revenue		FY 2009
Revenue		FY 2010
Revenue
General Fund$0$0$0$0($958,000)($1,958,000)
Education Fund$0$0$0$0($2,400,000)($21,750,000)
Transportation Fund Restricted$0$0$0$0$10,731,500$21,870,000
   Total
$0
$0
$0
$0
$7,373,500
($1,838,000)

Individual, Business and/or Local Impact:
Enactment of this bill likely will not result in direct, measurable costs and/or benefits for local governments. Certain individual and businesses could see decreased income tax payments while others could see slight gains. Both businesses and individuals will experience increases in sales tax paid.

3/4/2008, 6:20:36 PM, Lead Analyst: Wilko, A.Office of the Legislative Fiscal Analyst