Fiscal Note
S.B. 198 2nd Sub. (Salmon)
2024 General Session Point of the Mountain State Land Authority Amendments by Stevenson, J. (Stevenson, Jerry.)
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 2024 FY 2025 FY 2026
Total Revenues $0 $0 $0
Enactment of this legislation could forgo revenue to the General Fund. For every $10 million in taxable sales that occur on Point of the Mountain land, this legislation will divert approximately $300,000 to the authority from General Fund revenues. Should taxable sales at The Point reach $700 million per year in the future, enactment of this legislation could transfer $21 million from the General Fund to the authority per year.
Expenditures FY 2024 FY 2025 FY 2026
Total Expenditures $0 $0 $0
Enactment of this legislation likely will not materially impact state expenditures.
FY 2024 FY 2025 FY 2026
Net All Funds $0 $0 $0
Local Government UCA 36-12-13(2)(c)
Enactment of this legislation could increase revenue to the Point of the Mountain State Land Authority
(authority). For every $10 million in taxable sales that occur on Point of the Mountain land, this legislation will transfer approximately $300,000 to the authority from General Fund revenues. Should S.B. 198 2nd Sub. (Salmon)
taxable sales at The Point reach $700 million per year in the future, enactment of this legislation could transfer $21 million from the General Fund to the authority per year.
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.
2024/02/26 09:06, Lead Analyst: Steven M. Allred Attorney: RHR
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. 198 2nd Sub. (Salmon)
2024/02/26 09:06, Lead Analyst: Steven M. Allred Attorney: RHR


Statutes affected:
Introduced: 11-59-102, 11-59-202, 11-59-207, 11-59-306
Amended: 11-59-102, 11-59-202, 11-59-207, 11-59-306
Enrolled: 11-59-102, 11-59-202, 11-59-207, 11-59-306, 59-12-103
S.B. 198 1st Substitute (Not Adopted) Text: 11-59-102, 11-59-202, 11-59-306, 63I-1-211
S.B. 198 2nd Substitute : 11-59-102, 11-59-202, 11-59-306, 63I-1-211
S.B. 198 3rd Substitute (Not Adopted) Text: 11-59-102, 11-59-202, 11-59-207, 11-59-306