Bill Summary – FastDemocracy

Fiscal Note
                                   H.B. 520 1st Sub. (Buff)
                                   2024 General Session Fallow Land Amendments by Kyle, J. (Kyle, Jason.)
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 likely will not materially impact state revenue.
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)
To the extent that land assessed for agricultural use or urban farming is left to fallow, enactment of
this legislation could result in a relative reduction in the property tax revenue that might otherwise be
collected from such land and result in a relative tax shift within a taxing entity; the aggregate impact is
unknown.
Individuals & Businesses UCA 36-12-13(2)(c)
To the extent that land assessed for agricultural use or urban farming is left to fallow, enactment of
this legislation could result in a relative reduction in the property tax paid by businesses or individuals that might otherwise be paid from such landowners and result in a relative tax shift to other landowners
                                                                                                                H.B. 520 1st Sub. (Buff)
within a taxing entity; the aggregate impact is 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.
2024/02/21 07:50, Lead Analyst: Travis D Eisenbacher Attorney: GH
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.
                                                                                                                                                       H.B. 520 1st Sub. (Buff)
2024/02/21 07:50, Lead Analyst: Travis D Eisenbacher Attorney: GH
Statutes affected: 
Introduced: 59-2-503, 59-2-1703
Amended: 59-2-503, 59-2-1703
Enrolled: 59-2-503, 59-2-1703
H.B. 520 1st Substitute : 59-2-502, 59-2-503, 59-2-1702, 59-2-1703
H.B. 520 2nd Substitute (Not Adopted) Text: 59-2-503, 59-2-1703
H.B. 520 1st Substitute (Not Adopted) Text: 59-2-502, 59-2-503, 59-2-1702, 59-2-1703