Fiscal Note
2nd Sub. S.B. 129 (Salmon)
2025 General Session
Higher Education Development Areas
by Wilson, Chris H.
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
Total Revenues $0 $0 $0
To the extent that a company leases land on a higher education development area subject to a
privilege tax, the sponsoring institution of higher education could receive 80% of the assessed tax
which would equal approximately $8,000 per $1,000,000 of assessed property value. The timing and
aggregate impact are unknown.
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 $0 $0
Local Government UCA 36-12-13(2)(c)
To the extent that a company leases land on a higher education development area subject to a
privilege tax, counties could receive 20% of the assessed tax which would equal approximately $2,000
per $1,000,000 of assessed property value. The timing and aggregate impacts are unknown.
Individuals & Businesses UCA 36-12-13(2)(c)
To the extent that a company leases land on a higher education development area subject to a
privilege tax, they would be required to pay the privilege tax to county governments which would equal
approximately $10,000 per $1,000,000 of assessed property value. The timing and aggregate impact
are unknown.
Regulatory Impact UCA 36-12-13(2)(d)
Enactment of this legislation likely will not change the regulatory burden for Utah residents or
businesses.
2nd Sub. S.B. 129 (Salmon)
2025/02/27 10:07, Lead Analyst: Joseph Fitzgerald, Attorney: Nelson, P. 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. S.B. 129 (Salmon)
2025/02/27 10:07, Lead Analyst: Joseph Fitzgerald, Attorney: Nelson, P.