 | Fiscal Note1st Sub. H.B. 515 (Buff) 2026 General Session Graduate Student Supplemental Loans by Dailey-Provost, Jennifer |  |
| Ongoing | One-time | Total | |
|---|---|---|---|
| Net GF/ITF/USF (rev.-exp.) | $(1,900) | $(900) | $(2,800) |
| Revenues | FY2026 | FY2027 | FY2028 |
| New Account Created By Bill (FN Only), One-time | $0 | $0 | $158,512,400 |
| Total Revenues | $0 | $0 | $158,512,400 |
Enactment of this legislation could deposit $158,512,400 into the newly created Graduate Student Supplemental Revolving Loan Account in FY 2028.
| Expenditures | FY2026 | FY2027 | FY2028 |
| Closing Nonlapsing, One-time | $0 | $0 | $158,512,400 |
| General Fund | $0 | $1,900 | $1,900 |
| General Fund, One-time | $900 | $0 | $0 |
| New Account Created By Bill (FN Only) | $0 | $1,538,500 | $1,538,500 |
| New Account Created By Bill (FN Only), One-time | $0 | $(1,538,500) | $0 |
| Total Expenditures | $900 | $1,900 | $160,052,800 |
Enactment of this legislation could result in a net sweep of unspent funds at degree-granting institutions of $158,512,400 one-time in FY 2028 broken down as follows: Salt Lake Community College, $18,024,000; Snow College, $4,529,400; Southern Utah University, $8,732,100; University of Utah, $70,001,400; Utah State University, $27,331,200; Utah Tech University, $8,154,700; Utah Valley University, $19,986,600; and Weber State University, $1,753,000. This would be deposited into the Graduate Student Supplemental Revolving Loan Account created in this bill. Enactment of this legislation could also cost the Board of Higher Education $1,538,500 ongoing beginning in FY 2028 from this newly created account to administer the loan program. Enactment of this legislation could also cost the Department of Government Operations $900 one-time in FY 2026 and $1,900 ongoing beginning in FY 2027 to create and maintain the Graduate Student Supplemental Revolving Loan Account.
| FY2026 | FY2027 | FY2028 | |
| Net All Funds (rev-exp) | $(900) | $(1,900) | $(1,540,400) |
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