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

	Ongoing	One-time	Total
Net GF/ITF/USF (rev.-exp.)	$0	$(7,800)	$(7,800)

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

Revenues	FY2026	FY2027	FY2028
Dedicated Credits Revenue	$0	$(30,000)	$(30,000)
Dedicated Credits Revenue, One-time	$0	$30,000	$0
Total Revenues	$0	$0	$(30,000)

Enactment of this legislation may reduce dedicated credit revenue to the Governor's Office of Economic Opportunity by $30,000 beginning in FY 2028 due to a reduction in fee revenue from local entities.

Expenditures	FY2026	FY2027	FY2028
Dedicated Credits Revenue	$0	$(30,000)	$(30,000)
Dedicated Credits Revenue, One-time	$0	$30,000	$0
Income Tax Fund, One-time	$7,800	$0	$0
Total Expenditures	$7,800	$0	$(30,000)

Enactment of this legislation may reduce costs to the Governor's Office of Economic Opportunity by $30,000 beginning in FY 2028 due to a decrease in database management responsibilities. Enactment of this legislation may also cost the Tax Commission an estimated $7,800 one-time from the Income Tax Fund in FY 2027 for programming changes and updates to related instructions, forms, and processes.

	FY2026	FY2027	FY2028
Net All Funds (rev-exp)	$(7,800)	$0	$0

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

Enactment of this legislation may cost political subdivisions $1,700 per project area ongoing beginning in FY 2027 to comply with increased reporting requirements. Enactment may also increase revenue to the program manager by $30,000 due to fee collections from entities participating in the database described in the bill. Enactment may also cost the program manager $30,000 one-time in FY 2026 and $95,500 ongoing beginning in FY 2027 to create and maintain the database. The program manager has indicated that this cost can be absorbed. Enactment of this legislation could reduce property tax revenue to project area taxing entities by approximately $17,870,000 ongoing in aggregate beginning in FY 2027; impacts to individual entities will vary. To the extent that certain property improvements may no longer be considered as new growth, enactment of this legislation could reduce property tax revenue to local taxing entities; the aggregate impact is unknown.

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

Enactment of this legislation could reduce property taxes paid by businesses and individuals within project area taxing entities by approximately $17,870,000 ongoing in aggregate beginning in FY 2027. A homeowner with property worth $500,000 may see an average reduction of approximately $9 per year, and a business owner of a property worth $1 million may see an average reduction of $34 per year; individual impacts will vary. To the extent that certain property improvements may no longer be considered as new growth, enactment of this legislation could reduce property taxes paid by businesses and individuals; the aggregate impact is unknown.

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

Enactment of this legislation could result in a small increase in 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.

2026/03/05 10:25, Lead Analyst Jared Gibbs, Attorney: Arthur, A. V.

Fiscal Note