General, Income Tax, and Uniform School FundsJR4-4-101

	Ongoing	One-time	Total
Net GF/ITF/USF (rev.-exp.)	$28,767,100	$93,554,800	$122,321,900

State GovernmentUCA 36-12-13(2)(c)

Revenues	FY2025	FY2026	FY2027
Income Tax Fund, One-time	$1,132,000	$0	$0
Restricted Accounts (FN Only)	$0	$(51,409,200)	$(51,409,200)
Total Revenues	$1,132,000	$(51,409,200)	$(51,409,200)

This bill deposits $1,132,000 in FY 2025 into the Income Tax Fund. In FY 2026, it transfers ($51,409,200) in nonlapsing balances from the State Board of Education from the Uniform School Fund to various other funds and accounts.

Expenditures	FY2025	FY2026	FY2027
General Fund	$0	$(400,000)	$(400,000)
Income Tax Fund	$0	$35,165,000	$35,165,000
Income Tax Fund, One-time	$(13,451,000)	$(20,000,000)	$0
Uniform School Fund	$0	$(63,532,100)	$(63,532,100)
Uniform School Fund, One-time	$(99,184,700)	$40,212,900	$0
Dedicated Credits Revenue	$0	$(126,200)	$(126,200)
Restricted Revenue, One-time	$(28,868,000)	$91,363,200	$126,200
Transfers, One-time	$(1,120,000)	$0	$0
Closing Nonlapsing, One-time	$4,405,700	$0	$0
Total Expenditures	$(138,218,000)	$82,682,800	$(28,767,100)

This bill appropriates ($139,350,000), including ($112,635,700) from the Income Tax and Uniform School Funds for FY 2025, plus $134,092,000, including $42,855,000 from the General, Income Tax, or Uniform School Funds for FY 2026 to the State Board of Education to support the operations for school districts, charter schools, and state education agencies and programs. It transfers another ($51,409,200) in FY 2026 from state funds into other funds and accounts.

	FY2025	FY2026	FY2027
Net All Funds (rev-exp)	$139,350,000	$(134,092,000)	$(22,642,100)

Local GovernmentUCA 36-12-13(2)(c)

Enactment of this legislation likely will not result in direct, measurable costs for local governments.

Individuals & BusinessesUCA 36-12-13(2)(c)

Enactment of this legislation likely will not result in direct expenditures from tax or fee changes for Utah residents and businesses.

Regulatory ImpactUCA 36-12-13(2)(d)

Enactment of this legislation likely will not change the regulatory burden for Utah residents or businesses.

Performance EvaluationJR1-4-601

This bill does not create a new program or significantly expand an existing program.

Notes on Notes

Fiscal notes estimate the direct costs or revenues of enacting a bill. The Legislature uses them to balance the budget. They do not measure a bill's benefits or non-fiscal impacts like opportunity costs, wait times, or inconvenience. A fiscal note is not an appropriation. The Legislature decides appropriations separately.

2025/03/03 14:48, Lead Analyst Rachelle Gunderson, Attorney: Curtis, M.

Fiscal Note