Fiscal Note
SB0207S01 - Tax Exemption for Cedar Band of Paiute Tribe
State Impact:
Enacting this bill reduces sales tax to the General Fund by $123,100 and Transportation Fund revenue by $587,400 in FY 2012. After FY 2012, the exemption becomes 100% reducing revenue to the General Fund by $258,600 and to the Transportation Fund by $616,800 in FY 2013. The reduced appropriation applies to the B & C road account.
| Funding Source | FY 2010 Approp. | FY 2011 Approp. | FY 2012 Approp. | FY 2010 Revenue | FY 2011 Revenue | FY 2012 Revenue |
| General Fund | $0 | $0 | $0 | $0 | $0 | ($123,100) |
| Transportation Fund | $0 | $0 | ($587,400) | $0 | $0 | ($587,400) |
| Total | $0 | $0 | ($587,400) | $0 | $0 | ($710,500) |
Individual, Business and/or Local Impact:
Individuals and businesses will pay a tribal tax instead of the state taxes exempted in the bill. The amount of revenue from the tax should be substantially similar to the amount of loss to the General Fund and Transportation Fund. Local governments will experience a decrease of $587,400 due to the reduction in the distribution to the B & C road account.
| 3/8/2010, 9:02:49 AM, Lead Analyst: Young, T./Attny: PO | Office of the Legislative Fiscal Analyst |