Fiscal Note - State of Utah - 2011 General Session

SB0131S01 - Unincorporated Business Entity Uniform Acts

State Government (UCA 36-12-13(2)(b)):
Enactment of this legislation will increase annual Commerce Service Fund revenues by $87,800 starting in FY 2013 and annual expenditures by $78,200, plus $9,600 one-time in FY 2012. Commerce Service Fund revenue and expenditures affect the annual transfer to the General Fund.

State Budget Detail TableFY 2011FY 2012FY 2013
General Fund$0$0$9,600
Commerce Service Fund$0$0$78,200
   Total Revenue$0$0$87,800
Commerce Service Fund$0$78,200$78,200
Commerce Service, One-time$0$9,600$0
   Total Expenditure$0$87,800$78,200
Net Impact, All Funds (Rev.-Exp.)$0($87,800)$9,600
   Net Impact, General/Education Funds (Rev.-Exp.)$0$0$9,600

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill likely will not result in direct, measurable costs for local governments.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
General partnerships, limited partnerships, and some limited liability companies will be required to pay new filing fees beginning in FY 2013. An estimated 2,000 general partnerships will pay a $37.00 filing fee. 150 limited partnerships will pay the $70.00 reinstatement filing fee and 50 will pay a $37.00 filing fee for a merger, conversion, or domestication. An estimated 20 limited liability companies will also pay the $70.00 filing fee. Individuals involved in these partnerships will be affected by the filing fees.

3/1/2011, 12:20:58 PM, Lead Analyst: Lee, P.W./Attny: POOffice of the Legislative Fiscal Analyst