Fiscal Note

HB0126 - County Option Sales and Use Tax for Agricultural Land and Open Land

State Impact:
Passage of this bill could increase local revenues by as much as $2,365,000 if adopted by all eligible entities. The Tax Commission would require an appropriation of $66,000 from their restricted account to implement the provisions of the bill.

Funding SourceFY 2007
Approp.		FY 2008
Approp.		FY 2007
Revenue		FY 2008
Revenue
Restricted Funds$66,000$0$0$0
   Total
$66,000
$0
$0
$0

Individual and Business Impact:
There is a potential increase of 1/8th percent for sales purchased by individuals in counties which adopt the local option.

Office of the Legislative Fiscal Analyst
1/23/2006, 2:00:54 PM