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Show legislature Wm CoriZorvuiki Despite Billion Dollar Sudget & Despite the fact that this was the first billion dollar budget in Utah history, the Legislature was reasonably conservative in arriving at a spending program for the 1977-78 fiscal year. This was the conclusion reached in fiscal analysis of the 1977 legislative session just prepared prepar-ed by Utah Foundation, the private governmental research organization. The study shows that Utah was able to balance its budget for the coming year and still provide some tax relief especially espec-ially to the elderly poor. Altogether the tax changes made should save Utahns up to S8.2 million next year. Among the taxes reduced were the inheritance tax, the sales tax on residential healing and lighting bills, and the property tax paid by low-income elderly home owners and renters. On the other hand, because of changes made last year, the unemployment tax paid by employers will rise this year. State spending programs authorized for the 1977-78 fiscal year will total nearly SI, 016, 000. 000. According to the Foundation report, this amount is about S67.4 million more than the amount approved approv-ed for the current (1976-77) fiscal year. ' Most of the new spending authorized for next year is for education, with increased amounts also going for social service programs and for state employee salary adjustments. The study notes that next year's appropriations for transportation were cut substantially, sub-stantially, but the current year transportation authorizations had been inflated some hat by the release of previously-impounded previously-impounded Federal funds for highway purposes. The approved egis,., , program calls for a bud2e." will leave a razor-thin b;." t& of only SI 39,000 at thee" J the 1977-78 fiscal year'? dation analysts observe '" v at this could pose a probC PT revenue collections ;' . reach the rather r-'. , estimates employed in ti" l-1 ing the balance, it was r. out, however, that the U S1 ture did leave itself a when it placed 55,000,0x1' "i" a reserve fund to be i'p . emergency drought pur,'..' & T if and when needed. ' ' i One measure that : have an important long.-'.' 'SZ impact on state fini V T. according to the report. , fL, measure which requires"..' i actuarial study of the s . retirement program. Prp-,M studies by Utah Foucrv'p ' and the Legislative Fs -Analyst have revealed th'- "Sfj, present program will resi-1 & f dramatic increases in be---' and costs in future vea.-. January report bv the For-tion For-tion disclosed that the pr-,"-program will require sua -.-' local retirement contrib;-" cS" exceeding SVi billion an by the vear 19S6. " if A total of 954 b3s t resolutions were considers- , the 1977 Utah Legislarr.ro these. 369 were approve;-both approve;-both Houses. The Gove-? however, vetoed 15 of enacted bills after theleji ?" ture had adjourned. u 354 measures that will v become law . |