Fiscal Note
S.B. 270
2025 General Session
Income Tax Amendments
by Balderree, Heidi
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total
Net GF/ITF/USF (rev.-exp.) $(12,400,000) $596,100 $(11,803,900)
State Government UCA 36-12-13(2)(c)
Revenues FY 2025 FY 2026 FY 2027
Income Tax Fund $0 $(12,400,000) $(12,400,000)
Income Tax Fund, One-time $0 $600,000 $0
Total Revenues $0 $(11,800,000) $(12,400,000)
Enactment of this legislation could reduce revenue to the Income Tax Fund by an estimated $11.8
million in FY 2026 and $12.4 million in FY 2027 resulting from increased credits claimed by individuals
under 20 years of age claiming self-employment income in Utah.
Expenditures FY 2025 FY 2026 FY 2027
Income Tax Fund, One-time $0 $3,900 $0
Total Expenditures $0 $3,900 $0
Enactment of this legislation could increase costs to the Tax Commission by an estimated $3,900 one-
time from the Income Tax Fund in FY 2026 for changes to the State's tax systems, forms, instructions,
training and processes.
FY 2025 FY 2026 FY 2027
Net All Funds $0 $(11,803,900) $(12,400,000)
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 reduce income taxes paid by individuals under 20 years of age
claiming self-employment income in Utah by an estimated $11.8 million in FY 2026 and $12.4 million
in FY 2027 in aggregate; individual impacts will vary.
Regulatory Impact UCA 36-12-13(2)(d)
Enactment of this legislation likely will not change the regulatory burden for Utah residents or
businesses.
S.B. 270
2025/02/19 08:40, Lead Analyst: Travis Eisenbacher, 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.
S.B. 270
2025/02/19 08:40, Lead Analyst: Travis Eisenbacher, Attorney: Harb, G.