Representatives Seal

Fiscal Note

2nd Sub. H.B. 72 (Gray)

2026 General Session

Criminal Use of Cryptocurrency Amendments - As Amended

by Wilcox, Ryan D.

Senate Seal
General, Income Tax, and Uniform School FundsJR4-4-101
OngoingOne-timeTotal
Net GF/ITF/USF (rev.-exp.) $(36,200) $(20,000) $(56,200)


State GovernmentUCA 36-12-13(2)(c)
Revenues FY2026 FY2027 FY2028
Dedicated Credits Revenue $0 $31,400 $31,400
Commerce Service Account $0 $31,400 $31,400
Commerce Service Account, One-time $0 $20,000 $0
General Fund $0 $(31,400) $(31,400)
General Fund, One-time $0 $(20,000) $0
Total Revenues $0 $31,400 $31,400

Enactment of this legislation could increase dedicated credits revenue to the Attorney General by $31,400 ongoing beginning in FY 2027 for legal services. Enactment of this legislation could increase fine revenue to the Department of Commerce by $2,500 per violation generating an administrative fine; however, the number of these fines and their aggregate amount is unknown. Enactment of this legislation could decrease the annual transfer from the Commerce Service Account to the General Fund by $31,400 ongoing and $20,000 one-time beginning in FY 2027 for expenditures listed below.


Expenditures FY2026 FY2027 FY2028
Dedicated Credits Revenue $0 $31,400 $31,400
Commerce Service Account $0 $81,900 $81,900
Commerce Service Account, One-time $0 $20,000 $0
General Fund $0 $4,800 $4,800
Total Expenditures $0 $138,100 $118,100

Enactment of this legislation could cost the Department of Commerce $81,900 ongoing beginning in FY 2027 and $20,000 one-time in FY 2027 from the Commerce Service Account for enforcement, legal services, reporting, and system updates. The Department of Commerce has indicated it can absorb $50,500 of the ongoing costs. Enactment of this legislation could cost the Attorney General's Office $31,400 ongoing beginning in FY 2027 from Dedicated Credits for personnel services. Enactment of this legislation could increase costs for the Department of Public Safety by $1,600 ongoing from the General Fund beginning in FY 2027 for personnel expenses and training costs required once every three years and for quarterly reporting, which the Department indicated it can absorb. Additionally, reporting costs for the Commission on Criminal and Juvenile Justice could increase by $3,200 ongoing from the General Fund beginning in FY 2027, which it can absorb. As reporting requirements will be repealed July 1, 2030, reporting costs could decrease for the Department of Commerce by $200 ongoing from the Commerce Service Account, the Department of Public Safety by $200 ongoing from the General Fund, and the Commission on Criminal and Juvenile Justice by $3,200 ongoing from the General Fund beginning in FY 2031; all of these reductions were from absorbed costs.


FY2026 FY2027 FY2028
Net All Funds (rev-exp) $0 $(106,700) $(86,700)
Local GovernmentUCA 36-12-13(2)(c)

Enactment of this legislation could cost County Sheriffs and Police Departments $1,600 ongoing from their unrestricted funds beginning in FY 2027 for one peace officer's training required once every three years and quarterly reporting. The aggregate cost increase for County Sheriffs and Police Departments to meet reporting and training requirements is $182,400 ongoing from their unrestricted funds beginning in FY 2027. As reporting requirements will be repealed July 1, 2030, reporting costs could decrease for each County Sheriff and Police Department organization by $200 ongoing from unrestricted funds beginning in FY 2031, making the aggregate impact reduced reporting costs of $22,800 ongoing from unrestricted funds beginning in FY 2031.

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

To the extent that the Department of Commerce determines virtual currency kiosk operator violates statute, a business could be assessed a $2,500 fine; the aggregate amount of these fines is unknown.

Regulatory ImpactUCA 36-12-13(2)(d)

Enactment of this legislation could result in a medium increase in 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.