 | Fiscal NoteH.B. 395 2026 General Session Real Estate Transaction Amendments by Sawyer, Jake |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $(41,100) | $(5,200) | $(46,300) |
| Revenues | FY2026 | FY2027 | FY2028 |
| Transfers, One-time | $1,200 | $0 | $0 |
| Dedicated Credits Revenue, One-time | $2,000 | $0 | $0 |
| Commerce Service Account | $0 | $41,100 | $41,100 |
| Commerce Service Account, One-time | $0 | $6,700 | $0 |
| General Fund | $0 | $(41,100) | $(41,100) |
| General Fund, One-time | $0 | $(5,200) | $0 |
| Total Revenues | $3,200 | $1,500 | $0 |
Enactment of this legislation could increase application revenue by $1,500 one-time in FY 2027. This, combined with the expenditures listed below, would decrease the year-end transfer from the Commerce Service Account to the General Fund by $41,100 ongoing beginning in FY 2027 and $5,200 one-time in FY 2027. Enactment of this legislation could also increase background check fee revenue to the Department of Public Safety by $3,200 ongoing beginning in FY 2026. Of the fee revenue, $1,200 would be transferred from the Department of Public Safety to the Federal Bureau of Investigation ongoing beginning in FY 2026.
| Expenditures | FY2026 | FY2027 | FY2028 |
| Transfers, One-time | $1,200 | $0 | $0 |
| Dedicated Credits Revenue, One-time | $2,000 | $0 | $0 |
| Commerce Service Account | $0 | $41,100 | $41,100 |
| Commerce Service Account, One-time | $0 | $6,700 | $0 |
| Total Expenditures | $3,200 | $47,800 | $41,100 |
Enactment of this legislation could cost the Department of Commerce $41,100 ongoing from the Commerce Service Account beginning in FY 2027 and $6,700 one-time from the Commerce Service Account in FY 2027 for staff support to establish the new Real Estate Communication Commission. Enactment of this legislation could also cost the Department of Public Safety $3,200 in Dedicated Credits one-time in FY 2026 for staff support for background checks. Of this expense, $1,200 one-time in FY 2026 would be transferred to the Federal Bureau of Investigation for background checks.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $0 | $(46,300) | $(41,100) |
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
Enactment of this legislation could cause about 10 businesses to pay a $150 application fee to get the "Certificate of Authority". This would aggregate to an additional $1,500 in application fee revenue. Assuming each business has 10 people who own 10% of the business each, enactment of this legislation could also cause 100 people to pay a $32 background check fee as part of the application process. This would aggregate to an additional $3,200 in background check fee revenue.
Enactment of this legislation could result in a large increase in the regulatory burden for Utah residents or businesses.
This bill does not create a new program or significantly expand an existing program.