 | Fiscal NoteH.B. 252 2026 General Session Tariff Payment Tax Credit by Stoddard, Andrew |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $(35,019,400) | $114,400 | $(34,905,000) |
| Revenues | FY2026 | FY2027 | FY2028 |
| Income Tax Fund | $0 | $(34,800,000) | $(34,800,000) |
| Total Revenues | $0 | $(34,800,000) | $(34,800,000) |
Enactment of this bill may reduce Income Tax Fund revenue by an estimated $34.8 million ongoing beginning in FY 2027 as a result of the credits authorized in the bill.
| Expenditures | FY2026 | FY2027 | FY2028 |
| General Fund | $0 | $105,000 | $105,000 |
| Income Tax Fund | $0 | $114,400 | $114,400 |
| Income Tax Fund, One-time | $0 | $(114,400) | $700 |
| Total Expenditures | $0 | $105,000 | $220,100 |
Enactment of this legislation could increase costs to the Tax Commission by $114,400 ongoing and $700 one-time, from the Income Tax Fund, beginning in FY 2028 for system changes and staff support. Enactment of this legislation could also cost the Governor's Office of Economic Opportunity $105,000 ongoing from the General Fund in FY 2027 for staff support to certify compliance to the provisions of the bill.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $0 | $(34,905,000) | $(35,020,100) |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
Enactment of this bill may reduce total individual income tax liability by an estimated $34.8 million ongoing beginning in FY 2027 as a result of the credit authorized 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.