General, Education, and Uniform School FundsJR4-5-101

	Ongoing	One-time	Total
Net GF/EF/USF (rev.-exp.)	$692,600	$(768,600)	$(76,000)

State GovernmentUCA36-12-13(2)(b)

Enactment of this bill could increase revenue to the Education Fund by $875,000 annually beginning in FY 2019. The bill also provides a sales tax exemption for purchases or leases of certain machinery and equipment used in recycling or composting. The exemption could reduce the General Fund by $76,000 in FY 2018 and by $182,400 ongoing beginning in FY 2019. There could also be a reduction in earmarked sales tax revenue of $24,000 in FY 2018 and $57,600 ongoing beginning in FY 2019.

Revenues	FY 2017	FY 2018	FY 2019
General Fund	$0	$(182,400)	$(182,400)
Education Fund	$0	$875,000	$875,000
General Fund, One-Time	$0	$106,400	$0
Education Fund, One-Time	$0	$(875,000)	$0
Restricted Accounts and Funds	$0	$(24,000)	$(57,600)
Total Revenues	$0	$(100,000)	$635,000

Enactment of this legislation likely will not materially impact state expenditures.

Expenditures	FY 2017	FY 2018	FY 2019
Total Expenditures	$0	$0	$0

Net All Funds (rev-exp)

$(100,000)

$635,000

Local GovernmentUCA36-12-13(2)(c)

Enactment of this legislation could reduce local sales tax revenue by $40,000 in FY 2018 and by $110,000 ongoing beginning in FY 2019.

Individuals & BusinessesUCA36-12-13(2)(d)

Enactment of this bill eliminates a tax credit for an estimated 120 taxpayers in tax years 2018, 2019, and 2020 resulting in an aggregate increase in potential tax liability for the taxpayers of $875,000 annually. A portion of the 120 taxpayers could qualify for the sales tax exemption created in this bill resulting in an estimated savings to these taxpayers of approximately $350,000 in state and local sales tax.

Performance NoteJR4-2-404

No performance note required for this bill

Fiscal Note