Fiscal Note - State of Utah - 2012 General Session
SB0285 - Education Contribution on Tax Returns
State Government (UCA 36-12-13(2)(b)):
Enactment of this bill creates the "Invest More for Education" Account; total expected contributions are anticipated at $30,000 annually.
| State Budget Detail Table | FY 2012 | FY 2013 | FY 2014 |
| Revenue: | |||
| Uniform School Fund Restricted | $0 | $30,000 | $30,000 |
| Total Revenue | $0 | $30,000 | $30,000 |
| Expenditure | $0 | $0 | $0 |
| Net Impact, All Funds (Rev.-Exp.) | $0 | $30,000 | $30,000 |
| Net Impact, General/Education Funds (Rev.-Exp.) | $0 | $0 | $0 |
Local Governments (UCA 36-12-13(2)(c)):
Depending upon legislative appropriation and individual income tax filer contributions, enactment of this bill may increase revenue to school districts and/or charter schools by an anticipated $30,000 per year.
Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Enactment of this bill allows individual income tax filers to contribute to the newly created "Invest More for Education" Account. The total expected contribution amount is $30,000 annually.
| 2/28/2012, 11:14:08 AM, Lead Analyst: Young, T./Attny: RLR | Office of the Legislative Fiscal Analyst |