To find the y-intercept of the function \( h(x) = 12.3(4.9)^x \), we need to evaluate the function at \( x = 0 \).
The y-intercept occurs where \( x = 0 \): \[ h(0) = 12.3(4.9)^0 \]
Since any number raised to the power of 0 is 1, we have: \[ (4.9)^0 = 1 \]
Therefore, the equation simplifies to: \[ h(0) = 12.3 \times 1 = 12.3 \]
Thus, the value of the y-intercept of the graph of \( h(x) \) is \(\boxed{12.3}\).