May 2022 Archive

During the May meeting of the Executive Appropriations Committee, the Office of the Legislative Fiscal Analyst released several annual products and reports; including the Budget of the State of Utah (Appropriations Report), Utah’s Budget Presentation, final Revenue Estimates and more, described in detail below. Budget of the State of UtahThe Budget of the State of […]

On Monday, May 16th, 2022, the Tax Commission released its monthly TC-23 Revenue Summary Report jointly with the monthly Revenue Snapshot produced by the Legislative Fiscal Analyst and Governor’s Office of Planning and Budget. Through April, collections to the General and Education funds exceeded forecasts by 25.1%, outpacing FY 2021 by 25.7%.  A significant driver […]

In response to the COVID-19 pandemic, the Federal government provided states with three large stimulus packages partially aimed at mitigating impacts on the economy. The Coronavirus Aid, Relief, and Economic Security Act (CARES) and companion Families First Coronavirus Response Act passed in March of 2020 (roughly $13.6 billion for Utah), followed by the Consolidated Appropriations […]

In response to the abnormally dry conditions statewide1, and armed with Federal funding from the American Rescue Plan Act (ARPA) as well as surplus revenues partially attributable to previous federal intervention, the Utah Legislature made generational investments in water conservation, rights, and planning efforts during the 2021 First Special Session and 2022 General Session. 2021 […]