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2007 Session

Budget Amendments - SB750 (Member Request)

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Chief Patron: Watkins
Sales tax holiday on energy-efficient products (language only)

Item 0 #1s

Item 0 #1s

Revenues
Revenues

Language
Page 2, line 3, strike "16,431,117,023" and insert "16,431,002,023"
Page 2, line 16, strike "18,646,260,526" and insert "18,646,243,536"


Explanation
(This amendment reduces GF and TTF revenue estimates to reflect the Tax Department's revenue impact statement related to SB 867, which grants a 4-day sales tax holiday on energy-efficient products purchased with a sales price of $2,500 or less. The TAX Department fiscal impact statement assumes that the sales tax holiday will result in no additional sales of energy-efficient products during the 4-day holiday period than would otherwise occur. An estimated sales tax loss for FY 2008 is derived by multiplying 4/365 times estimated annual sales. The resulting projected sales tax loss for FY 2008 is $115,000 GF, $17,000 TTF and $34,000 local.)