Fiscal Note - State of Utah - 2012 General Session

HB0250 - Tax Credit for Dependent with a Disability

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could reduce revenue to the Education Fund by $765,000 in FY 2013 and by $781,000 in FY 2014.

State Budget Detail TableFY 2012FY 2013FY 2014
Education Fund$0($781,000)($781,000)
Education Fund, One-Time$0$16,000$0
   Total Revenue$0($765,000)($781,000)
Net Impact, All Funds (Rev.-Exp.)$0($765,000)($781,000)
   Net Impact, General/Education Funds (Rev.-Exp.)$0($765,000)($781,000)

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)):
Eligible taxpayers would receive an estimated benefit of $114 due to the nonrefundable nature of the credit. Approximately 6850 taxpayers could benefit from the provisions for a cumulative benefit to taxpayers of $781,000.

1/14/2012, 1:24:24 PM, Lead Analyst: Wilko, A./Attny: RLROffice of the Legislative Fiscal Analyst