 | Fiscal Note3rd Sub. H.B. 377 (Cherry) 2026 General Session Real Estate Amendments by Walter, R. Neil (Musselman, Calvin R.) |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $0 | $0 | $0 |
| Revenues | FY2026 | FY2027 | FY2028 |
| Commerce Service Account | $0 | $34,000 | $34,000 |
| Total Revenues | $0 | $34,000 | $34,000 |
Enactment of this legislation could increase licensing fee revenue to the Commerce Service Account by a net of $34,000 ongoing beginning in FY 2027.
| Expenditures | FY2026 | FY2027 | FY2028 |
| Commerce Service Account | $0 | $34,000 | $34,000 |
| Total Expenditures | $0 | $34,000 | $34,000 |
Enactment of this legislation could decrease costs to the Department of Commerce by $40,000 ongoing from the Commerce Service Account beginning in FY 2027 due to narrowing the scope of the property manager license. It could also increase costs to the Department of Commerce by $74,000 ongoing from the Commerce Service Account beginning in FY 2027 for staff support to implement a new license.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $0 | $0 | $0 |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
Enactment of this legislation could reduce the number of people paying the $50 property management licensing fee by 800, which would reduce fee revenue by $40,000 ongoing beginning in FY 2027. Enactment of this legislation could increase the number of people paying the $150 dual broker license by 493, which would increase fee revenue by $74,000 ongoing beginning in FY 2027.
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