Fiscal Note
SB0237 - Commercial Airline and Airport Taxation Amendments
State Impact:
The provision related to counties of the first class could result in annual General Fund foregone revenue of $3 million beginning in FY 2011. The provision related to counties of the second class could result in annual General Fund forgone revenue of $1 million beginning in FY 2009.
| Funding Source | FY 2008 Approp. | FY 2009 Approp. | FY 2010 Approp. | FY 2008 Revenue | FY 2009 Revenue | FY 2010 Revenue |
| General Fund | $0 | $0 | $0 | $0 | ($1,000,000) | ($1,000,000) |
| Total | $0 | $0 | $0 | $0 | ($1,000,000) | ($1,000,000) |
Individual, Business and/or Local Impact:
Due to the sales tax provision, counties of the first class with an international airport are likely to experience foregone revenue beginning in FY 2011 of $1.4 million annually. In addition, individuals and businesses are likely to experience an ongoing shift in property tax liability in counties of the first class with an international airport of $5.7 million from central assessed to locally assessed property.
| 3/6/2008, 12:00:32 AM, Lead Analyst: Young, T. | Office of the Legislative Fiscal Analyst |