Sales/use tax-removal of 4th cent.

05LSO-0248.L1

                                                         

FISCAL NOTE

 

	FY 2006	FY 2007	FY 2008
NON-ADMINISTRATIVE IMPACT
Anticipated Revenue Decrease:
GENERAL FUND	88,000,000	90,100,000	92,500,000
LOCAL SOURCES FUND	39,000,000	39,900,000	41,000,000

 

Source of revenue decrease:

 

Decrease in the statewide sales and use tax rate from 4 percent to 3 percent.

 

 

Assumptions:

 

The above estimates are based on October 2004 CREG projections for state sales and use taxes.

 

The above estimates include the impact of one percent of local source funds credited to the General Fund for administration.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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