Sales and use tax distributions. |
14LSO-0064.L1 |
FISCAL NOTE
|
FY 2015 |
FY 2016 |
FY 2017 |
NON-ADMINISTRATIVE IMPACT |
|
|
|
Anticipated Revenue Increase (Decrease): |
|
|
|
GENERAL FUND |
(36,630,000) |
(37,224,000) |
(37,719,000) |
LOCAL SOURCES FUND |
36,630,000 |
37,224,000 |
37,719,000 |
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 October 2013 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, 2014 (FY 2015).
Prepared by: Dean Temte, LSO Phone: 777-7881
(Information provided by Kim E. Lovett, Dept. of Revenue; 777-5220)