Fiscal Note - State of Utah - 2012 General Session
SB0024 - Research Tax Credit Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill reduces revenue to the Education Fund by $402,000 annually.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Education Fund | ($402,000) | ($402,000) | ($402,000) |
| Total Revenue | ($402,000) | ($402,000) | ($402,000) |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | ($402,000) | ($402,000) | ($402,000) |
| Net Impact, General/Education Funds (Rev.-Exp.) | ($402,000) | ($402,000) | ($402,000) |
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 and businesses involved in certain research activities will see a decrease of $402,000 in tax liability related to purchases of machinery and/or equipment.
| 1/18/2012, 10:12:25 AM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |