Fiscal Note
S.B. 173 2nd Sub. (Salmon)
2024 General Session Market Informed Compensation for Teachers by Fillmore, L. (Fillmore, Lincoln.)
General, Income Tax, and Uniform School Funds JR4-4-101
Ongoing One-time Total Net GF/ITF/USF (rev.-exp.) $0 $(200,005,000) $(200,005,000)
State Government UCA 36-12-13(2)(c)
Revenues FY 2024 FY 2025 FY 2026
Public Education Economic $0 $200,000,000 $0
Stabilization Restricted Account Total Revenues $0 $200,000,000 $0
Enactment of this legislation assumes $200,000,000 one-time of the total $481,507,900 in Uniform School Funds transferred to the Public Education Economic Stabilization Restricted Account will be
used to fund the appropriation detailed in the bill.
Expenditures FY 2024 FY 2025 FY 2026
Income Tax Fund, One-time $0 $5,000 $0
Uniform School Fund, One-time $0 $200,000,000 $0
Public Education Economic $0 $200,000,000 $0
Stabilization Restricted Account Total Expenditures $0 $400,005,000 $0
Enactment of this legislation appropriates $200,000,000 one-time from the Public Education Economic Stabilization Restricted Account to the State Board of Education in FY 2025 to implement the Excellence in Education and Leadership Supplement as outlined in the bill. This bill may also cost the State Board of Education $5,000 one-time from the Income Tax Fund in FY 2025 to establish data sharing agreements. The State Board indicates that this cost can be absorbed within current budget allocations.
S.B. 173 2nd Sub. (Salmon)
This bill assumes the transfer of $200,000,000 one-time in FY 2025 from the Uniform School Fund to
the Public Education Economic Stabilization Restricted Account.
FY 2024 FY 2025 FY 2026
Net All Funds $0 $(200,005,000) $0
Local Government UCA 36-12-13(2)(c)
Enactment of this legislation likely will not result in direct, measurable costs for local governments.
2024/02/23 08:44, Lead Analyst: Ben Leishman Attorney: JVH
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.
Performance Evaluation JR1-4-601
This bill does not create a new program or significantly expand an existing program.
Notes on Notes Fiscal notes 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 note is not an appropriation. The Legislature decides appropriations separately.
S.B. 173 2nd Sub. (Salmon)
2024/02/23 08:44, Lead Analyst: Ben Leishman Attorney: JVH


Statutes affected:
Introduced: 53F-2-504
Enrolled: 53F-2-504
S.B. 173 1st Substitute : 53F-2-504
S.B. 173 2nd Substitute : 53F-2-504
S.B. 173 3rd Substitute (Not Adopted) Text: 53F-2-504
S.B. 173 2nd Substitute (Not Adopted) Text: 53F-2-504
S.B. 173 1st Substitute (Not Adopted) Text: 53F-2-504