Fiscal Note - State of Utah - 2013 General Session

HB0300 - Retention of Sales and Use Tax Collections by Certain Remote Sellers

State Government (UCA 36-12-13(2)(b)):
Enacting this bill could increase the General Fund by $18,000,000 in FY 2014 and by $18,700,000 in FY 2015. Restricted revenues could increase by $12,700,000 in FY 2014 and by $13,200,000 in FY 2015 due to existing statutory earmarks.

State Budget Detail TableFY 2013FY 2014FY 2015
General Fund$0$18,000,000$18,700,000
Restricted Funds$0$12,700,000$13,200,000
   Total Revenue$0$30,700,000$31,900,000
Net Impact, All Funds (Rev.-Exp.)$0$30,700,000$31,900,000
   Net Impact, General/Education Funds (Rev.-Exp.)$0$18,000,000$18,700,000

Local Governments (UCA 36-12-13(2)(c)):
Local sales tax revenue could increase by $13,100,000 in FY 2014 and by $13,700,000 in FY 2015.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Individuals not currently remitting sales or use tax on certain purchases could see an increase in cost of approximately 6.7 percent.

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

2/14/2013, 5:16:11 PM, Lead Analyst: Wilko, A./Attny: RLROffice of the Legislative Fiscal Analyst