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

	Ongoing	One-time	Total
Net GF/ITF/USF (rev.-exp.)	$(1,800,000)	$200,000	$(1,600,000)

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

Revenues	FY2026	FY2027	FY2028
Income Tax Fund	$0	$(1,800,000)	$(1,800,000)
Income Tax Fund, One-time	$0	$200,000	$0
Total Revenues	$0	$(1,600,000)	$(1,800,000)

Enactment of this bill may decrease Income Tax Fund revenue by $1.6 million in FY 2027 and $1.8 million in FY 2028 as a result of the expanded credit.

Expenditures	FY2026	FY2027	FY2028
Total Expenditures	$0	$0	$0

Enactment of this legislation likely will not materially impact state expenditures.

	FY2026	FY2027	FY2028
Net All Funds (rev-exp)	$0	$(1,600,000)	$(1,800,000)

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 bill may decrease total income tax liability for qualified taxpayers by $1.6 million in FY 2027 and $1.8 million in FY 2028.

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.

2026/01/20 16:32, Lead Analyst Andrea Wilko, Attorney: Harb, G.

Fiscal Note