Sales and use tax distributions.

11LSO-0031.L1

                                                         

UPDATED FOR JANUARY 2011 CREG

 

FISCAL NOTE

 

 

FY 2012

FY 2013

FY 2014

NON-ADMINISTRATIVE IMPACT

 

 

 

Anticipated Revenue Increase (Decrease):

 

 

 

GENERAL FUND            

(32,571,000)

(33,561,000)

(33,759,000)

LOCAL SOURCES FUND      

32,571,000

33,561,000

33,759,000

 

Source of revenue increase (decrease):

 

Change in the General Fund distribution percentage of the state 4% sales and use tax from 69% to 64%. This decrease in the General Fund distribution percentage results in an increase in the sales and use tax distributions to cities, towns, and counties.

 

Assumptions:

 

The above estimates are based on projected sales and use tax revenues reflected in Table 1 of the January 2011 CREG Revenue forecast.

 

The above estimates also reflect the change in the 1% administrative fee deposited to the General Fund.

 

This bill is effective July 1, 2011 (FY 2012).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepared by:   Dean Temte, LSO  Phone: 777-7881