Fiscal Note - State of Utah - 2012 General Session
HB0299S01 - Tax Revisions
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may reduce revenue to the Education Fund by $7,720,000 in FY 2013 and by $16,056,000 in FY 2014. The carry forward provisions of this bill will increase the total revenue loss annually.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Education Fund | $0 | ($16,056,000) | ($16,056,000) |
| Education Fund, One-Time | $0 | $8,336,000 | $0 |
| Total Revenue | $0 | ($7,720,000) | ($16,056,000) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | ($7,720,000) | ($16,056,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | ($7,720,000) | ($16,056,000) |
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)):
Individuals who have paid college tuition could receive a credit over time equal to the full cost of tuition.
| 2/27/2012, 11:37:40 AM, Lead Analyst: Wilko, A./Attny: RLR | Office of the Legislative Fiscal Analyst |