Fiscal Note
5th Sub. H.B. 483 (Salmon)
2025 General Session
School and Institutional Trust Lands
Administration Modifications
by Walter, R. Neil
(Owens, Derrin R.)
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $0 $0 $0
State Government UCA 36-12-13(2)(c)
Revenues FY 2025 FY 2026 FY 2027
Dedicated Credits Revenue $0 $32,000 $32,000
Total Revenues $0 $32,000 $32,000
Enactment of this Legislation could increase Dedicated Credit revenue to the Office of the State
Auditor by $32,000 ongoing beginning in FY 2026 from billing the School and Institutional Trust Lands
Administration for auditing financial statements included in their annual report.
Expenditures FY 2025 FY 2026 FY 2027
Dedicated Credits Revenue $0 $32,000 $32,000
Land Grant Management Fund $0 $254,500 $254,500
Total Expenditures $0 $286,500 $286,500
Enactment of the Legislation could cost the Office of the State Auditor $32,000 ongoing from
Dedicated Credits starting in FY 2026 from auditing financial statements included in the School
and Institutional Trust Lands Administration annual report. Enactment could cost the School and
Institutional Trust Lands Administration (SITLA) $254,500 ongoing from the Land Grant Management
Fund beginning in FY 2026 to value their land portfolio in a five year cycle and prepare and publish an
annual report that includes activities and audited financial statements.
FY 2025 FY 2026 FY 2027
Net All Funds $0 $(254,500) $(254,500)
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.
5th Sub. H.B. 483 (Salmon)
2025/03/06 21:57, Lead Analyst: Lacey Moore, Attorney: Williams, R. 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.
5th Sub. H.B. 483 (Salmon)
2025/03/06 21:57, Lead Analyst: Lacey Moore, Attorney: Williams, R.