Fiscal Note - State of Utah - 2014 General Session

SB0012 - Age Limit for Tobacco and Related Products

State Government (UCA 36-12-13(2)(b)):
Enactment of this bill reduces ongoing tax revenue to the General Fund by about $2.7 million beginning in FY 2015 due to decreased tobacco and related product sales.

State Budget Detail TableFY 2014FY 2015FY 2016
General Fund$0($2,665,000)($2,665,000)
   Total Revenue$0($2,665,000)($2,665,000)
Net Impact, All Funds (Rev.-Exp.)$0($2,665,000)($2,665,000)
   Net Impact, General/Education Funds (Rev.-Exp.)$0($2,665,000)($2,665,000)

Local Governments (UCA 36-12-13(2)(c)):
Enactment of this bill will likely reduce ongoing sales tax revenue to local governments of about $175,000 beginning in FY 2015.

Direct Expenditures by Utah Residents and Businesses (UCA 36-12-13(2)(d)):
Through provisions of this bill, approximately 4,700 individuals forgo purchasing tobacco and related products saving about $600/person/year for a total of $2.8 million in savings in local and state taxes.

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

1/9/2014, 3:29:17 PM, Lead Analyst: Syphus, G./Attny: SJOffice of the Legislative Fiscal Analyst