Sales tax on food-repeal. |
04LSO-0397.L1 |
FISCAL NOTE (HB0179)
|
FY 2006 |
FY 2007 |
|
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue Decrease: |
|
|
|
GENERAL FUND |
15,610,000 |
16,280,000 |
0 |
LOCAL SOURCES FUND |
14,330,000 |
14,940,000 |
0 |
Source of revenue decrease: Exemption from sales and use tax of food for domestic home consumption from July 1, 2004 through June 30, 2006.
Assumptions:
Estimates derived from FY 2003 Distribution by Minor Business Class Report and are reduced by 25 percent to estimate non-food sales by grocers. The above decreases are based on January 2004 CREG projections.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Dan Noble, Dept. of Revenue; phone 777-5220)
This bill has administrative impact that appears to increase (or decrease) duties or responsibilities of one or more state agencies and may impact agency spending or staffing requirements. As introduced, the bill does not modify any state agency budget or current personnel authorizations.
The following state agencies will be asked to provide their estimate of the administrative fiscal impact prior to the first committee meeting held to consider the bill:
Department of Revenue
Department of Audit