Fiscal Note
2nd Sub. H.B. 260 (Gray)
2025 General Session
First Credential Program
by Peterson, Val L.
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $0 $(3,000,000) $(3,000,000)
State Government UCA 36-12-13(2)(c)
Revenues FY 2025 FY 2026 FY 2027
Public Education Economic
Stabilization Restricted Account,
One-time
$0 $2,000,000 $0
Total Revenues $0 $2,000,000 $0
Enactment of this legislation assumes $2,000,000 one-time from the Uniform School Fund
transferred to the Public Education Economic Stabilization Restricted Account will be used to fund the
appropriation detailed in the bill.
Expenditures FY 2025 FY 2026 FY 2027
Income Tax Fund, One-time $0 $1,000,000 $0
Uniform School Fund, One-time $0 $2,000,000 $0
Public Education Economic
Stabilization Restricted Account,
One-time
$2,000,000 $0 $0
Total Expenditures $2,000,000 $3,000,000 $0
Enactment of this legislation would appropriate $1,000,000 one-time in FY 2026 from the Income Tax
Fund to the Board of Higher Education for First Credential Scholarships. Enactment of this legislation
would also appropriate $2,000,000 one-time from the Public Education Economic Stabilization Account
in FY 2026 to the State Board of Education to administer the First Credential Program.
This bill assumes the transfer of $2,000,000 one-time in FY 2026 from the Uniform School Fund to the
Public Education Economic Stabilization Restricted Account.
FY 2025 FY 2026 FY 2027
Net All Funds $(2,000,000) $(1,000,000) $0
2nd Sub. H.B. 260 (Gray)
2025/02/18 17:39, Lead Analyst: Joseph Fitzgerald, Attorney: Van Hulten, J. Local Government UCA 36-12-13(2)(c)
Local Education Authorities would be eligible for funding as a result of this legislation. The amount
LEAs would be eligible to receive would depend on the number of LEAs interested in participating and
the number of students earning a First Credential Certificate.
Individuals & Businesses UCA 36-12-13(2)(c)
Individuals would be eligible to receive scholarship funding as a result of this legislation. The exact
amount an individual could earn would depend on the number of students earning the First Credential
Certificate and would not exceed a total aggregate of $1,000,000.
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.
2nd Sub. H.B. 260 (Gray)
2025/02/18 17:39, Lead Analyst: Joseph Fitzgerald, Attorney: Van Hulten, J.