Fiscal Note

SB0027 - Sales and Use Tax Definition of Tangible Personal Property

State Impact:
Enactment of this bill could increase sales tax revenue to the General Fund by $5,183,600 in FY 2011 and $5,331,900 in FY 2012.

Funding SourceFY 2010
Approp.
FY 2011
Approp.
FY 2012
Approp.
FY 2010
Revenue
FY 2011
Revenue
FY 2012
Revenue
General Fund$0$0$0$0$5,183,600$5,331,900
   Total
$0

$0

$0

$0

$5,183,600

$5,331,900

Individual, Business and/or Local Impact:
Individuals and businesses purchasing flooring will now pay sales tax on flooring regardless of the transaction type. Local governments could get an increase in revenue of $2,227,900 in FY 2011 and $2,294,700 in FY 2012.

2/9/2010, 9:29:16 AM, Lead Analyst: Young, T./Attny: RLROffice of the Legislative Fiscal Analyst