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