ST. GEORGE — The state’s Executive Appropriations Committee is recommending approval of the $28 billion state budget for fiscal year 2024-25, the Legislature announced Friday via press release.
Utah House Speaker Mike Schultz, R-Hooper, asks representatives to settle down and take their seats before the start of the 2024 Legislature at the Utah State Capitol in Salt Lake City, Jan. 16, 2024 | Photo by Krisitn Murphy/The Deseret News via The Associated Press, Pool, St. George News
The budget will now advance to the full Legislature for consideration and will be approved before the session adjourns on March 1, the news release said.
“Utah has an elite economy and unmatched opportunities, in part because of leaders who came before us and put the people of Utah first,” said Speaker Mike Schultz. “Our finalized budget reflects the prioritization of current needs while making life more affordable for Utahns and keeping an eye to the future.
This year’s recommendations bolster Utah’s history of responsible fiscal stewardship in appropriations. Lawmakers’ recommendations include strategic investments across vital sectors, including education, social services, infrastructure, energy and water, while providing Utahns with an income tax cut for the fourth consecutive year.
The 2025 fiscal year begins July 1, 2024. Anticipated revenue forecasts indicate a shift toward a stabilized and reliable income trajectory. As such, Utah is poised to navigate a logical transition toward a more modest revenue stream, the news release said.
“Utah stands prepared, ready to navigate the uncertainties and challenges posed by economic downturns with resilience,” said Sen. Jerry Stevenson, EAC co-chair. “Through strategic forecasting and planning, our state remains at the forefront of the nation’s economic landscape and we are committed to supporting the people of Utah.”
Added EAC Co-chair Rep. Val Peterson: “Our state is fortunate to have steady job growth, low unemployment, and proven commitment to fiscal prudence. It’s no surprise Utah’s economy is the strongest in the nation. The budget we have laid out will ensure Utah continues on this path of economic strength and prosperity.”
Funding Highlights:
Tax Relief
$167 million – S.B. 69 Income Tax Amendments
Reduces all Utahns’ income tax rate from 4.65% to 4.55%
$2.3 million – H.B. 153 Child Care Revisions
Expands Child Tax Credit from 3 years to 4 years
Public Education
$212 million – 5% increase to the Weighted Pupil Unit (WPU)
$150 million – S.B 173 Excellence in Education and Leadership Program
$101 million – K-12 School Property Insurance
$100 million (1x); $2.1 million (ong) – H.B. 84 School Safety
$74 million – Educational Professional Time
$40 million – Utah Fits All Scholarship Program
$35.5 million – H.B. 415 School Fees Amendments
$30 million – Small/Rural District Capital Needs
$19.8 million – Digital Teaching and Learning
$8.4 million – H.B. 221 Stipends for Future Educators
$8.4 million – H.B. 105 Teacher Supplies and Materials Increase
$6 million (1x); $1 million (ong) – K-12 Computer Science Initiative
$4.8 million – H.B. 431 Teacher Retention
$3 million – High School Service Pilot Program
$1.5 million – S.B. 205 Child Sexual Abuse Prevention Amendments
Affordable Housing/Homelessness
$18 million – H.B. 572 Utah Homes Investment Program
$10 million – Statewide Homeless System Support
$10 million – Salt Lake Veterans Home Construction
$3 million – Law Enforcement First Time Home Buyers
Technology/AI
$2 million – S.B. 84 AI Education Grant Program Funding
$1 million – State AI Lab Office
Transportation/Infrastructure
$50 million – Point of the Mountain Transit Stop
$15 million – Saint George Regional Airport Control Tower
$3.9 million – State & Local Cybersecurity Grant Program Match
Natural Resources, Agriculture and Environmental Quality
$10 million – Great Salt Lake Investments
$10 million – Cove-East Fork Virgin River Watershed Project
$8.5 million – Wildlife Resources Land Purchase
$5 million – Ogden Canyon Water Line
$4.8 million – Grazing Improvement Projects
3 million (1x); $1 million (ong) – S.B. 211 Generational Water Infrastructure Amendments
$2.5 million – H.B. 280 Water Related Changes
$2.5 million – Shared Stewardship
$2 million – H.B. 410 San Rafael Energy Research Center
$1 million (1x); 1 million (ong) – Great Salt Lake Watershed Measurements Infrastructure
$200,000 (1x); $1M (ong) – Wildfire Fuel Crews
Health and Social Services
$75 million – Huntsman Cancer Institute Vineyard Cancer Research
$425,000 (1x); $10 million (ong) – Mandated Additional Needs & Youth Aging Out of DCFS & JJYS
$5 million – Services for People with Disabilities Waiting List
$1.3 million (1x); $1.4 million (ong) – S.B. 213 Criminal Justice Modifications
$1.8 million – Ensuring Nutrition for Vulnerable Seniors
$1 million – Food Security Processing Grants
$1 million – Early Childhood Mental Health Services
$1 million – Grants for Adoption of Hard-to-place Kids
Criminal Justice
$1.3 million (1x); $1.4 million (ong) – S.B. 213 Criminal Justice Modifications
$400,000 (1x); $1.4 million (ong) – Prison Safety & Risk Mitigation
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