Fiscal Note - State of Utah - 2011 General Session
SB0270 - Modifications to Sales and Use Tax
State Government (UCA 36-12-13(2)(b)):
This bill decreases revenue to the General Fund by $3,183,300 in FY 2012 and $9,358,800 in FY 2013. The Transportation Investment Fund of 2005 and the Critical Highway Needs Fund are expected to see an increase in revenue of $1.1 million annually.
| State Budget Detail Table | FY 2011 | FY 2012 | FY 2013 |
| Revenue: | |||
| General Fund | $0 | ($9,358,800) | ($9,358,800) |
| General Fund, One-Time | $0 | $6,175,500 | $0 |
| Transportation Fund Restricted | $0 | $1,100,000 | $1,100,000 |
| Transportation Fund Restricted | $0 | $1,100,000 | $1,100,000 |
| Total Revenue | $0 | ($983,300) | ($7,158,800) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($983,300) | ($7,158,800) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($3,183,300) | ($9,358,800) |
Local Governments (UCA 36-12-13(2)(c)):
Local entities are expected to see an increase in sales tax revenue of $31.7 million in FY 2012 and $33.9 million in FY 2013.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
By decreasing the general sales tax rate and increasing the food tax rate, this bill shifts the tax burden from non-food purchases to food purchases. Businesses are expected to see a decrease in the cost of complying with the sales tax statute by a minimum of $1,000,000 annually.
| 3/2/2011, 4:15:52 PM, Lead Analyst: Wilko, A./Attny: RLR | Office of the Legislative Fiscal Analyst |