Fiscal Note - State of Utah - 2012 General Session

HB0041 - Property Taxation of Business Personal Property

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill likely will not materially impact the state budget.

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill could result in a $12 million shift in property tax revenue between tax types. Overall the impact will be revenue neutral.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill could result in a shift in a $12 million property tax revenues between taxpayers. Those taxpayers with business personal property will see a decrease in taxes paid while all others see an increase in taxes.

1/16/2012, 7:51:02 AM, Lead Analyst: Wilko, A./Attny: RLROffice of the Legislative Fiscal Analyst