Fiscal Note - State of Utah - 2012 General Session
SB0027 - Amendments to Revenue and Taxation Title
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill reduces one-time revenue to the General Fund of $2,000,000 in FY 2012 and forgoes another $6,700,000 in General Fund revenue per year.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| General Fund, One-Time | ($2,000,000) | $0 | $0 |
| Total Revenue | ($2,000,000) | $0 | $0 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | ($2,000,000) | $0 | $0 |
| Net Impact, General/Education Funds (Rev.-Exp.) | ($2,000,000) | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Local entities can expect a one-time decrease in sales tax revenue of $600,000.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Individuals and businesses that paid sales tax on items exempt from taxation will be able to apply for $2,600,000 in refunds.
| 2/10/2012, 3:49:48 PM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |