Railroad rolling stock tax exemption. |
14LSO-0291.L1 |
FISCAL NOTE
|
FY 2015 |
FY 2016 |
FY 2017 |
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue (Decrease): |
|
|
|
GENERAL FUND |
0 |
(536,625) |
(536,625) |
LOCAL SOURCES FUND |
0 |
(475,870) |
(475,870) |
Source of revenue decrease:
Repeal of the sunset for the sales & use tax exemption for the repair, assembly, alteration or improvement of railroad rolling stock
Assumptions:
The above estimate is based upon the FY 2012 reported costs of this exemption and the statewide average sales & use tax distribution of 53 percent to the General Fund and 47 percent to local governments. The total estimated revenue decrease is $1,012,495. FY 2012 was the last year a survey of the industry was employed to obtain the costs associated with this exemption.
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Kim E. Lovett, Dept. of Revenue; 777-5220)