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)