OFA Fiscal Note
REVENUE LOSS TO THE GENERAL FUND
The amendment extends the sales and use tax exemption for clothing and footwear under $50 to include special clothing or footwear used for organized youth sports. This results in a revenue loss to the General Fund estimated to be up to $100,000 in FY 15 and up to $1 million annually thereafter.
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.