| Date Requested:February 09, 2005 Time Requested:02:58 PM |
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| FUND(S) General Revenue Fund | |||
|---|---|---|---|
Sources of Revenue | |||
| General Fund | |||
Legislation creates:
Neither Program nor Fund | |||
Effect this measure will have on costs and revenues of state government.
| The stated purpose of this bill is to remove the consumer’s sales tax on sales of clothing. The tax commissioner is authorized to propose rules to further the intent of the article.
According to our interpretation and based on available data, passage of this bill would result in a loss to the General Revenue Fund of $77.3 million. Additional administrative costs to the Tax Department associated with this bill would be minimal. |
| Over-all effect |
| Effect of Proposal | Fiscal Year | ||
|---|---|---|---|
| 2005 Increase/Decrease (use"-") |
2006 Increase/Decrease (use"-") |
Fiscal Year (Upon Full Implementation) | |
| 1. Estmated Total Cost | 4,000 | 0 | 0 |
| Personal Services | 0 | 0 | 0 |
| Current Expenses | 4,000 | 0 | 0 |
| Repairs and Alterations | 0 | 0 | 0 |
| Assets | 0 | 0 | 0 |
| Other | 0 | 0 | 0 |
| 2. Estimated Total Revenues | 0 | -77,300,000 | -77,300,000 |
|
3. Explanation of above estimates (including long-range effect):
According to our interpretation and based on available data, passage of this bill would result in a loss to the General Revenue Fund of $77.3 million.
Additional administrative costs to the Tax Department associated with this bill would be minimal. |