Fiscal Note - State of Utah - 2013 General Session

HB0096S02 - Cleaner Burning Fuels Tax Credits Amendments and Related Funding

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill could decrease revenue to the Education Fund by $2,850,000 one-time in FY�2015. A transfer from the General Fund one-time will offset the Education Fund decrease for all but $500,000 of the total.

State Budget Detail TableFY 2013FY 2014FY 2015
General Fund, One-Time$0$0($2,350,000)
Education Fund, One-Time$0$0($2,850,000)
Education Fund, One-Time$0$0$2,350,000
   Total Revenue$0$0($2,850,000)
Net Impact, All Funds (Rev.-Exp.)$0$0($2,850,000)
   Net Impact, General/Education Funds (Rev.-Exp.)$0$0($2,850,000)

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)):
Enactment of this bill could decrease tax paid by certain individuals converting their vehicles to natural gas. The aggregate impact is estimated at $1,250,000. Individuals currently receiving credits under the exemption would continue to benefit in the aggregate amount of $1,600,000.

Performance Note Required? (Joint Rule 4-2-404): No

3/14/2013, 4:59:04 PM, Lead Analyst: Wilko, A./Attny: RLROffice of the Legislative Fiscal Analyst