Fiscal Note - State of Utah - 2012 General Session
HB0056 - Condominium Amendments
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill is expected to generate $150,000 annually in fee revenue to the newly established Condominium Fund. Annual expenditure, including mediation costs, are estimated at $139,900 from the Condominium Fund.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Restricted Funds | $0 | $150,000 | $150,000 |
| Total Revenue | $0 | $150,000 | $150,000 |
| Expenditure: | |||
| Restricted Funds | $0 | $139,900 | $139,900 |
| Total Expenditure | $0 | $139,900 | $139,900 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $10,100 | $10,100 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
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)):
Condominium associations and therefore presumably individual condominium owners would be required to pay $2.00 per condominium per year for a cumulative cost of $150,000.
| 1/16/2012, 8:13:07 AM, Lead Analyst: Wilko, A./Attny: RHR | Office of the Legislative Fiscal Analyst |