LD 1338 LR 2069(02)
An Act To Create and Sustain Jobs through Development of Cooperatives and Employee-owned Businesses
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
Fiscal Note
FY 2017-18 FY 2018-19 Projections  FY 2019-20 Projections  FY 2020-21
Net Cost (Savings)
General Fund $0 $32,340 $575,432 $353,832
General Fund $0 $0 $267,157 $92,107
General Fund $0 ($32,340) ($308,275) ($261,725)
Other Special Revenue Funds $0 ($660) ($16,225) ($13,775)
Fiscal Detail and Notes
This bill would reduce General Fund revenue by $32,340 in fiscal year 2018-19 and reduce Local Government Fund revenue by $660 in fiscal year 2018-19.  The Department of Administrative and Financial Services will require a General Fund appropriation of $267,157 in fiscal year 2019-20 for one Management Analyst II position and programming costs to process, review and analyze individual income tax returns that include a deduction by the business owner for gains recognized in transferring the business to an employee stock ownership plan, eligible worker-owned cooperative, consumer cooperative or affordable housing cooperative.