H.B. 549
2023/03/01 09:58, Lead Analyst: Timothy G. Dinehart Attorney: EAE
Fiscal Note
H.B. 549
2023 General Session
Minimum Wage Modifications
by Garner, B.
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $(175,445,100) $175,445,100 $0
State Government UCA 36-12-13(2)(c)
Revenues FY 2023 FY 2024 FY 2025
Total Revenues $0 $0 $0
Enactment of this legislation likely will not materially impact state revenue.
Expenditures FY 2023 FY 2024 FY 2025
General Fund $0 $84,469,500 $84,469,500
General Fund, One-time $0 $(84,469,500) $(42,234,800)
Income Tax Fund $0 $90,975,600 $90,975,600
Income Tax Fund, One-time $0 $(90,975,600) $(45,487,800)
Transportation Fund $0 $13,900,100 $13,900,100
Transportation Fund, One-time $0 $(13,900,100) $(6,950,100)
Federal Funds $0 $30,166,000 $30,166,000
Federal Funds, One-time $0 $(30,166,000) $(15,083,000)
Dedicated Credits Revenue $0 $0 $5,050,300
Restricted Revenue $0 $0 $6,369,700
Other Financing Sources $0 $0 $5,674,500
Total Expenditures $0 $0 $126,850,000
Enactment of this legislation could increase the state cost of wages and benefits paid to state, higher
education, and public education employees by approximately $253,700,000 ongoing beginning in FY
2026 of which $84,469,500 is from the General Fund and $90,975,600 is from the Income Tax Fund.
Due to the mid-year effective date, FY 2025 costs will be one half of the total annual ongoing costs.
FY 2023 FY 2024 FY 2025
Net All Funds $0 $0 $(126,850,000)
Local Government UCA 36-12-13(2)(c)
Enactment of this legislation could cost local governments $105,900,000 ongoing beginning in FY
2026 due to the increase in the minimum wage up to $19 an hour. H.B. 549
2023/03/01 09:58, Lead Analyst: Timothy G. Dinehart Attorney: EAE
Individuals & Businesses UCA 36-12-13(2)(c)
Enactment of this legislation would increase earnings to Utah individuals earning $7.25 or lower an
hour. A full time employee currently earning minimum wage would see an annual income increase of
$24,400.
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.