Annual performance review of income tax credits as recommended to Auditor General.
Credits recommended for review can be ranked, or, if not, will be ranked for audit in order of income credit tax usage in terms of dollars and vulnerability to error or fraud.
Extends review cycle for certain tax credits from every 3 years to once every 5 years.
Includes tax credit review criteria for each tax credit provision subject to the audit.
Legislative History
On Jan. 21, 2025, bill introduced in Senate; on Jan. 21, 2025, bill passed in Senate.
On Jan. 22, 2025, bill introduced in House; on Feb. 20, 2025, bill passed in House.
On Feb. 20, 2025, bill amendments concurred; on Feb. 24, bill received for enrolling.
Effectiveness
Upon enactment, SB 43 S1 to take effect on May 7, 2025.
Mar. 25, 2025 UTA LEG Governor Approval
On Mar. 25, 2025, UTA LEG reported governor signed bill; effective on May 7, 2025.
