Fiscal Note
H.B. 5
2025 General Session
General Government Base Budget
by Thurston, Norman K
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $(168,990,700) $(135,398,700) $(304,389,400)
State Government UCA 36-12-13(2)(c)
Revenues FY 2025 FY 2026 FY 2027
General Fund, One-time $5,000,000 $0 $0
Restricted Accounts (FN Only),
One-time
$0 $155,417,600 $10,218,900
Total Revenues $5,000,000 $155,417,600 $10,218,900
This bill deposits $5,000,000 in FY 2025 into the unrestricted General and Income Tax funds. It
transfers another $155,417,600 in FY 2026 from the General/Income Tax funds into other funds and
accounts.
Expenditures FY 2025 FY 2026 FY 2027
General Fund $0 $139,847,000 $139,847,000
General Fund, One-time $(2,400,000) $73,770,500 $0
Income Tax Fund $0 $29,143,700 $29,143,700
Income Tax Fund, One-time $0 $69,028,200 $0
Transportation Fund $0 $6,308,500 $6,308,500
Transportation Fund, One-time $0 $0 $0
Federal Funds $0 $9,919,200 $9,919,200
Federal Funds, One-time $(2,600) $0 $0
Dedicated Credits Revenue $0 $47,700,700 $47,700,700
Dedicated Credits Revenue, One-
time
$26,768,200 $0 $0
Transfers $0 $4,639,700 $4,639,700
Transfers, One-time $(21,284,900) $0 $0
Other Financing Sources $0 $28,051,600 $28,051,600
Other Financing Sources, One-
time
$(2,800) $0 $0
Restricted Accounts (FN Only),
One-time
$7,286,800 $140,909,100 $138,509,100
Closing Nonlapsing, One-time $(43,670,000) $31,521,700 $30,181,700
H.B. 5
2025/01/21 13:27, Lead Analyst: Alejandra Rodriguez, Attorney: Gilbert, C. Total Expenditures $(33,305,300) $580,839,900 $434,301,200
This bill appropriates ($38,305,300), including ($2,400,000) from the General/Income Tax Funds
for FY 2025, plus $425,422,300, including $156,371,800 from the General/Income Tax Funds for
FY 2026. These appropriations support the operations and capital acquisitions of state government,
including expendable funds and accounts. It transfers another $155,417,600 in FY 2026 from the
General/Income Tax funds into other funds and accounts.
FY 2025 FY 2026 FY 2027
Net All Funds $38,305,300 $(425,422,300) $(424,082,300)
Local Government UCA 36-12-13(2)(c)
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
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 explanations 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 explanation is not an appropriation. The
Legislature decides appropriations separately.
H.B. 5
2025/01/21 13:27, Lead Analyst: Alejandra Rodriguez, Attorney: Gilbert, C.