Fiscal Note - State of Utah - 2012 General Session

SB0023S01 - Life Science and Technology Tax Credit Amendments

State Government (UCA 36-12-13(2)(b)):
Depending on the timing of construction, enactment of this bill may forgo up to $33 million in Education Fund revenue and up to $19 million in General Fund revenue beginning in FY 2013.

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)):
Depending on the timing of construction, enactment of this bill may decrease the amount of tax paid by eligible businesses by up to $54 million beginning in FY 2013.