Fiscal Note
1st Sub. S.B. 262 (Green)
2025 General Session
Housing Affordability Modifications
by Fillmore, Lincoln
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $(263,200) $(92,500) $(355,700)
State Government UCA 36-12-13(2)(c)
Revenues FY 2025 FY 2026 FY 2027
Total Revenues $0 $0 $0
Enactment of this legislation could result in revenues to the Department of Workforce Services from
the shared appreciation mortgage loan program. The aggregate impact is unknown and is dependent
on the terms of the loan, and proportion of home price appreciation during the term of the loan.
Expenditures FY 2025 FY 2026 FY 2027
General Fund $0 $263,200 $263,200
General Fund, One-time $92,500 $0 $0
Total Expenditures $92,500 $263,200 $263,200
Enactment of this legislation could cost the Department of Workforce Services $263,200 ongoing and
$92,500 one-time from the General Fund for the creation of a loan program and administration of the
loan program in FY 2026.
FY 2025 FY 2026 FY 2027
Net All Funds $(92,500) $(263,200) $(263,200)
Local Government UCA 36-12-13(2)(c)
To the extent that a municipality uses home ownership promotion zone funds, the enactment of this
legislation could reallocate home ownership promotion zone funds to address water exaction cost,
street lightning costs, or environmental remediation costs.
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.
1st Sub. S.B. 262 (Green)
2025/03/05 09:34, Lead Analyst: Josh Pittman, Attorney: Bailey, R. Performance Evaluation JR1-4-601
This bill creates a new program or significantly expands an existing program.
For a list of questions lawmakers might ask to improve accountability for the proposed program,
please see: https://budget.utah.gov/newprogram
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.
1st Sub. S.B. 262 (Green)
2025/03/05 09:34, Lead Analyst: Josh Pittman, Attorney: Bailey, R.