Fiscal Note
H.B. 316
2025 General Session
Child Tax Credit Amendments
by Strong, Mark A.
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $(4,000,000) $0 $(4,000,000)
State Government UCA 36-12-13(2)(c)
Revenues FY 2025 FY 2026 FY 2027
Income Tax Fund $0 $(4,000,000) $(4,000,000)
Income Tax Fund, One-time $0 $0 $0
Total Revenues $0 $(4,000,000) $(4,000,000)
Enactment of this legislation expands the age of a child dependent for whom an individual taxpayer
may claim a child tax credit to 0 to 5 years of age. Enactment of this bill could reduce revenues to the
Income Tax Fund by $4 million annually beginning in FY 2026.
Expenditures FY 2025 FY 2026 FY 2027
Total Expenditures $0 $0 $0
Enactment of this legislation likely will not materially impact state expenditures.
FY 2025 FY 2026 FY 2027
Net All Funds $0 $(4,000,000) $(4,000,000)
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 could result in an estimated 9,600 individuals seeing tax savings of $417
on average beginning in tax year 2025. Individual impacts will vary based on income, filing status, age
of dependents, and other factors.
Regulatory Impact UCA 36-12-13(2)(d)
Enactment of this legislation likely will not change the regulatory burden for Utah residents or
businesses.
H.B. 316
2025/01/25 07:06, Lead Analyst: Andrea Wilko, Attorney: Harb, G. 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. 316
2025/01/25 07:06, Lead Analyst: Andrea Wilko, Attorney: Harb, G.