Fiscal Note - State of Utah - 2012 General Session

HB0101S01 - Tax Credits for Employing a Homeless Person

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill may decrease revenue to the Education Fund by $215,000 in FY 2013 and by $431,000 in FY 2014.

State Budget Detail TableFY 2012FY 2013FY 2014
Education Fund$0($431,000)($431,000)
Education Fund, One-Time$0$216,000$0
   Total Revenue$0($215,000)($431,000)
Net Impact, All Funds (Rev.-Exp.)$0($215,000)($431,000)
   Net Impact, General/Education Funds (Rev.-Exp.)$0($215,000)($431,000)

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)):
Businesses could get a credit of up to $2,000 in a fiscal year for each homeless individual hired. In year one it is expected that approximately 144 individuals would be hired for a cumulative credit of $215,000. In year two approximately 287 individuals are expected to be hired for a cumulative total of $431,000.

2/15/2012, 12:45:49 PM, Lead Analyst: Wilko, A./Attny: RLROffice of the Legislative Fiscal Analyst