General, Income Tax, and Uniform School FundsJR4-4-101

	Ongoing	One-time	Total
Net GF/ITF/USF (rev.-exp.)	$7,400,000	$(7,420,000)	$(20,000)

State GovernmentUCA 36-12-13(2)(c)

Revenues	FY2026	FY2027	FY2028
General Fund	$0	$7,400,000	$7,400,000
General Fund, One-time	$0	$(7,420,000)	$(7,710,000)
Total Revenues	$0	$(20,000)	$(310,000)

Enactment of this legislation could decrease revenue to the General Fund by an estimated $20,000 in FY 2027 and $680,000 in FY 2028, resulting from changes to the amounts claimed for homeowner's and renter's credit. Enactment of this legislation could also increase revenue to the General Fund by an estimated $370,000 in FY 2028, and increasing annually for twenty years, resulting from changes to eligibility for homeowner's credit.

Expenditures	FY2026	FY2027	FY2028
Total Expenditures	$0	$0	$0

Enactment of this legislation likely will not materially impact state expenditures.

	FY2026	FY2027	FY2028
Net All Funds (rev-exp)	$0	$(20,000)	$(310,000)

Local GovernmentUCA 36-12-13(2)(c)

To the extent that additional property tax deferrals are claimed, enactment of this legislation could increase the amount of property taxes being deferred among local governments. Additional deferrals may result in a temporary collection rate shift within a given taxing entity; the aggregate impact is unknown.

Individuals & BusinessesUCA 36-12-13(2)(c)

Enactment of this legislation could result in a property tax shift among businesses and individuals of approximately $200,000 in aggregate beginning in FY 2028 resulting from temporarily expanded eligibility for homeowner's credit; individual impacts will vary. Enactment of this legislation could also result in an increase in renter's and homeowner's tax credit received by businesses and individuals of approximately $20,000 in FY 2027 and $680,000 in FY 2028. To the extent that individuals who would otherwise have qualified for the homeowner's credit choose to apply for property tax deferrals, enactment of this legislation could result in increased levels of property tax deferrals in aggregate beginning in 2027.

Regulatory ImpactUCA 36-12-13(2)(d)

Enactment of this legislation likely will not change the regulatory burden for Utah residents or businesses.

Performance EvaluationJR1-4-601

This bill does not create a new program or significantly expand an existing program.

Notes on Notes

Fiscal notes estimate the direct costs or revenues of enacting a bill. The Legislature uses them to balance the budget. They do not measure a bill's benefits or non-fiscal impacts like opportunity costs, wait times, or inconvenience. A fiscal note is not an appropriation. The Legislature decides appropriations separately.

2026/01/22 12:37, Lead Analyst Travis Eisenbacher, Attorney: Harb, G.

Fiscal Note