 | Fiscal Note1st Sub. H.B. 141 (Buff) 2026 General Session International Money Transmission Amendments by Gricius, Stephanie |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $4,976,300 | $(4,824,300) | $152,000 |
| Revenues | FY2026 | FY2027 | FY2028 |
| General Fund | $0 | $5,200,000 | $5,200,000 |
| General Fund, One-time | $0 | $(4,460,000) | $(1,990,000) |
| Total Revenues | $0 | $740,000 | $3,210,000 |
Enactment of this legislation could increase General Fund revenues by an estimated $740,000 in FY 2027; $3.21 million in FY 2028; $4.30 million in FY 2029; and $5.2 million ongoing beginning in FY 2030.
| Expenditures | FY2026 | FY2027 | FY2028 |
| General Fund | $0 | $223,700 | $223,700 |
| General Fund, One-time | $0 | $364,300 | $5,500 |
| Total Expenditures | $0 | $588,000 | $229,200 |
Enactment of this legislation could cost the Tax Commission $223,700 ongoing from the General Fund beginning in FY 2027, $364,300 one-time in FY 2027, and $5,500 one-time in FY 2028 from the General and Income Tax Funds for staff support and programming costs.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $0 | $152,000 | $2,980,800 |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
Enactment of this legislation could result in an aggregate net tax increase of $740,000 in FY 2027; $3.21 million in FY 2028; $4.30 million in FY 2029; and $5.2 million in FY 2030 as a result of the transaction tax detailed in the bill.
Enactment of this legislation likely will not change the regulatory burden for Utah residents or businesses.
This bill does not create a new program or significantly expand an existing program.