Fiscal Note - State of Utah - 2012 General Session

HB0133S01 - Vehicle Registration Amendments

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill will likely reduce revenue related to Uninsured Motorist Identification by $400 beginning in FY 2014. The bill likely will increase the following revenue beginning in FY 2014: Centennial Highway Fund: $47,900 MV Transportation Investment Fund: $45,700 Uniform School Fund Restricted (Drivers Education): $24,100 Transportation Fund: $96,800 The bill authorizes the Tax Commission to impose a new $3 fee to cover potential costs associated with processing new transactions, which will increase Dedicated Credits revenue by an estimated $621,600 in FY2014.

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill may increase revenue to local governments by about $266,400 in FY 2014.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Depending upon individuals' and businesses' registration decisions, individuals and businesses may see an increase or decrease in vehicle registration costs. Overall, about 207,700 individuals and businesses are anticipated to see a decrease in vehicle registration costs of about $1,090,500 for FY 2014; about 68,500 individuals and businesses are anticipated to see an increase in vehicle registration costs of about $1,926,200 in FY 2014.