Fiscal Note - State of Utah - 2012 General Session

HB0507 - School Allocations Measured by Property Tax

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill allocates $1,838,000 from the Education Fund in FY2013 and FY2014 to local education agencies for costs associated with local property taxes.

State Budget Detail TableFY 2012FY 2013FY 2014
Education Fund$0$1,838,000$1,838,000
   Total Expenditure$0$1,838,000$1,838,000
Net Impact, All Funds (Rev.-Exp.)$0($1,838,000)($1,838,000)
   Net Impact, General/Education Funds (Rev.-Exp.)$0($1,838,000)($1,838,000)

Local Governments (UCA 36-12-13(2)(c)):
Charter schools and school districts will see increased Education Fund allocations of $1,838,000 in FY2013 and FY2014 for property taxes paid to local government entities.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill likely will not result in direct, measurable expenditures by Utah residents or businesses.

2/29/2012, 5:36:47 PM, Lead Analyst: Young, T./Attny: RLROffice of the Legislative Fiscal Analyst