 | Fiscal Note1st Sub. H.B. 373 (Buff) 2026 General Session Higher Education Innovation by Peterson, Karen M. |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $0 | $(25,000) | $(25,000) |
| Revenues | FY2026 | FY2027 | FY2028 |
| Total Revenues | $0 | $0 | $0 |
Enactment of this legislation likely will not materially impact state revenue.
| Expenditures | FY2026 | FY2027 | FY2028 |
| Performance Funding Restricted Account (ITFR), One-time | $0 | $17,339,000 | $0 |
| Income Tax Fund, One-time | $0 | $25,000 | $25,000 |
| Total Expenditures | $0 | $17,364,000 | $25,000 |
Enactment of this legislation could forgo Income Tax Fund savings of $17,339,000 one-time in FY 2027 and instead cost the Utah Board of Higher Education $17,339,000 from the Performance Funding Restricted Account one-time in FY 2027 to implement the Higher Education Research Funding Pilot Program. Enactment of this legislation could also cost the Utah Board of Higher Education $25,000 one-time from the Income Tax Fund in each Fiscal Year of FY27-30 for a total of $100,000 to administer the Higher Education Research Funding Pilot Program. The Board has indicated that they could absorb this administrative cost.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $0 | $(17,364,000) | $(25,000) |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
Enactment of this legislation likely will not result in direct expenditures from tax or fee changes for Utah residents and businesses.
Enactment of this legislation likely will not change the regulatory burden for Utah residents or businesses.
This bill creates a new program or significantly expands an existing program.
For a list of questions lawmakers might ask to improve accountability for the proposed
program, please see:
https://budget.utah.gov/newprogram