H.B. 1
2023/01/17 16:01, Lead Analyst: Kimberly D. Madsen Attorney: MC
Fiscal Note
H.B. 1
2023 General Session
Higher Education Base Budget
by Ballard, M.
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $(1,488,234,900) $4,910,000 $(1,483,324,900)
State Government UCA 36-12-13(2)(c)
Revenues FY 2023 FY 2024 FY 2025
Restricted Revenue $0 $22,824,000 $22,824,000
Total Revenues $0 $22,824,000 $22,824,000
This bill transfers $22,824,000 in FY 2024 from the General/Income Tax Funds into other funds and
accounts.
Expenditures FY 2023 FY 2024 FY 2025
General Fund $0 $446,352,800 $446,352,800
Income Tax Fund $0 $1,041,882,100 $1,041,882,100
Income Tax Fund, One-time $(4,910,000) $0 $0
Federal Funds $0 $3,909,000 $3,909,000
Dedicated Credits Revenue $0 $935,261,600 $935,261,600
Restricted Revenue $0 $21,790,400 $21,790,400
Transfers $555,000 $24,934,300 $24,934,300
Other Financing Sources $(555,000) $1,880,800 $1,880,800
Closing Nonlapsing $(483,200) $0 $0
Total Expenditures $(5,393,200) $2,476,011,000 $2,476,011,000
This bill appropriates ($5,393,200), including ($4,910,000) from the General/Income Tax Funds for
FY 2023, plus $2,453,187,000, including $1,465,410,900 from the General/Income Tax Funds for
FY 2024. These appropriations support the operations and capital acquisitions of state government,
including expendable funds and accounts. It transfers another $22,824,000 in FY 2024 from the
General/Income Tax funds into other funds and accounts.
FY 2023 FY 2024 FY 2025
Net All Funds $5,393,200 $(2,453,187,000)$(2,453,187,000)
Local Government UCA 36-12-13(2)(c)
Enactment of this legislation likely will not result in direct, measurable costs for local governments. H.B. 1
2023/01/17 16:01, Lead Analyst: Kimberly D. Madsen Attorney: MC
Individuals & Businesses UCA 36-12-13(2)(c)
Enactment of this legislation likely will not result in direct expenditures from tax or fee changes for Utah
residents and businesses.
Regulatory Impact UCA 36-12-13(2)(d)
Enactment of this legislation likely will not change the regulatory burden for Utah residents or
businesses.
Performance Evaluation JR1-4-601
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.