OFA Fiscal Note
The amendment yields significant General Fund savings.
In addition, the amendment reduces revenue to municipalities under the Budget Act by eliminating the 0.1% sales tax increase that would be shared with municipalities. The amount of this revenue reduction is estimated to be $56.6 million in FY 12 and $59.0 million in FY 13.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.