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Revised Fiscal NoteH.B. 101 2023 General Session Food Sales Tax Amendments by Rohner, J |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $(155,300,000) | $25,600,000 | $(129,700,000) |
| Revenues | FY 2023 | FY 2024 | FY 2025 |
| General Fund | $0 | $(155,300,000) | $(155,300,000) |
| General Fund, One-time | $0 | $25,600,000 | $0 |
| Transportation Investment Fund of 2005 | $0 | $(33,400,000) | $(39,700,000) |
| Restricted Accounts (FN Only) | $0 | $(2,900,000) | $(3,000,000) |
| Total Revenues | $0 | $(166,000,000) | $(198,000,000) |
Enactment of this legislation could reduce state sales tax revenue by approximately $166.0 million in FY 2024 and $198.0 million ongoing beginning in FY 2025. The impact is split between the General Fund, with a decrease of $129.7 million in FY 2024 and $155.3 million ongoing beginning in FY 2025, and sales tax earmarks, with an aggregate decrease of $36.3 million in FY 2024 and $42.7 million ongoing beginning in FY 2025.
| Expenditures | FY 2023 | FY 2024 | FY 2025 |
| Total Expenditures | $0 | $0 | $0 |
Enactment of this legislation likely will not materially impact state expenditures.
| FY 2023 | FY 2024 | FY 2025 | |
| Net All Funds (rev-exp) | $0 | $(166,000,000) | $(198,000,000) |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
In aggregate, the changes in this bill are estimated to decrease sales tax liability for taxpayers by approximately $166.0 million in FY 2024 and $198.0 million in FY 2025. Impacts will vary by household depending on the amount of expenditures on food and food ingredients. A household that spends $6,000 annually on food/food ingredients could see tax savings of approximately $105 per year.