SB 121: Property Loss Amendments - Utah

Amended 2/18/2025 15:02:43 → Substitute #1 · 1 edit

MINOR

The bill was reformatted from a standard legislative document to a substitute version with different line numbering and formatting. The substantive policy content remains the same, though there is one notable change where the requirement for fund usage was altered from 'no more than 50%' to 'no less than 50%' of the fund being used each fiscal year to directly assist individuals or businesses.

Scope change

No substantive change to the bill's scope or applicability; the policy provisions remain identical except for the funding allocation threshold modification.

FISCAL

Changed the fund usage requirement from 'no more than 50%' to 'no less than 50%' of the fund shall be used each fiscal year to directly assist an individual or a business that meets the requirements.

Amended Excerpts 2/18/2025 15:02:43 → Amended 2/18/2025 15:02:43 · 8 edits

MODERATE

This bill establishes a new enterprise fund to provide financial assistance to businesses and individuals experiencing property loss related to homelessness. The bill creates an advisory committee to oversee the fund and outlines eligibility criteria, including a specific exemption for one business location. The changes include adding new sections defining terms, creating the fund, and establishing compensation guidelines.

Scope change

The bill adds a new Part 8 to the Utah Code creating a Property Loss Related to Homelessness Compensation Enterprise Fund, expanding the scope from existing provisions to include a dedicated fund for property loss compensation.

FISCAL

Creates a new Property Loss Related to Homelessness Compensation Enterprise Fund with $250,000 appropriated for fiscal year 2026 from the General Fund.

SCOPE

Establishes a Property Loss Related to Homelessness Advisory Committee with up to nine members to oversee the fund.

ELIGIBILITY

Defines eligibility for compensation for businesses and individuals located within 1/5 of a mile of a homeless services facility who experience property loss as a direct result of the facility's presence.

DEFINITION

Adds new definitions for 'Committee', 'Fund', 'Homeless services facility', and 'Property loss' to clarify the bill's terms.

REQUIREMENT

Requires businesses receiving compensation to be in good standing with the State Tax Commission and Department of Commerce.

Limits fund usage to no more than 50% for directly assisting individuals or businesses each fiscal year.

EXEMPTION

Exempts a specific business at parcel record number 15-26-326-016-0000 from receiving compensation for property loss related to homeless services facilities.

TECHNICAL

Updates bill formatting and header information to reflect the substitute bill version dated February 18, 2025.

Enrolled → Amended Excerpts 2/18/2025 15:02:43 · 1 edit

MINOR

The bill was amended to add an exemption for a specific business located at a particular parcel record number from receiving compensation for property loss related to homelessness. This change narrows the scope of who can receive funds from the new Property Loss Related to Homelessness Compensation Enterprise Fund.

Scope change

The bill's scope was narrowed by adding a specific exemption for one business address from the compensation program.

ELIGIBILITY

Added a specific exemption stating that a business located at parcel record number 15-26-326-016-0000 is not eligible to receive compensation for property loss related to the presence of a homeless services facility.

Substitute #5 → Substitute #6 · 2 edits

MINOR

The bill was revised to reduce the appropriated funding amount from $150,000 to $10,000 for business-like activities in fiscal year 2026. The text also changed from a continuous stream of lines to a formatted bill layout with line numbers and headers, indicating this is a new version of the bill text.

FISCAL

The appropriation amount for business-like activities was reduced from $150,000 to $10,000 for fiscal year 2026.

TECHNICAL

The bill text was reformatted with line numbers, headers, and spacing changes, indicating a new version of the document.

Substitute #4 → Substitute #5 · 3 edits

MINOR

The bill text was reformatted from a standard legislative document to a substitute version with updated line numbers and formatting. The core policy content, funding amounts, eligibility criteria, and substantive provisions remain unchanged. The only notable difference is the addition of a header indicating this is the 5th substitute version dated February 27, 2025.

Scope change

No substantive change to the bill's scope or applicability; only formatting and version tracking were updated.

TECHNICAL

Document was reformatted from standard legislative text to substitute version format with new line numbers and page breaks.

Added header identifying this as the 5th substitute version of SB 121 dated 02-27 10:24.

Updated line numbering and page headers to reflect the substitute version format.

Substitute #3 → Substitute #4 · 5 edits

MODERATE

This bill was revised from Substitute #3 to Substitute #4, changing the House Sponsor from 'LONG TITLE' to 'Tyler Clancy', reducing the appropriated funding from $250,000 to $150,000, and significantly restructuring the bill's sections. The new version adds specific documentation requirements for property loss claims, creates an exemption for one specific business address, and shifts administrative authority from a committee to the office/executive director.

Scope change

The bill's scope was narrowed by reducing the funding amount and adding a specific exemption for one business address, while administrative oversight shifted from an advisory committee to direct office administration.

FISCAL

The appropriated funding amount was reduced from $250,000 to $150,000 for fiscal year 2026.

REQUIREMENT

New documentation requirements were added requiring closed insurance claim information with settlement amounts to verify property loss.

ELIGIBILITY

A specific exemption was created for a business at parcel record number 15-26-326-016-0000, which cannot receive compensation for property loss related to homeless services facilities.

ENFORCEMENT

Administrative authority changed from an advisory committee to the office, with the executive director now authorized to spend up to 4% of fund revenues for administrative expenses.

TECHNICAL

The House Sponsor name was changed from 'LONG TITLE' to 'Tyler Clancy' and the bill was renumbered from Sections 35A-16-801 and 35A-16-802 to a single Section 35A-16-212.

Substitute #2 → Substitute #3 · 2 edits

MINOR

This bill creates a new enterprise fund to compensate businesses and individuals for property loss caused by homeless services facilities. The main substantive change is a reversal of the spending limit: the original version required at least 50% of funds to directly assist individuals or businesses, while the new version limits direct assistance to no more than 50% of the fund. This shift prioritizes administrative and operational costs over direct compensation.

Scope change

The bill's scope remains focused on compensating property loss related to homeless services facilities, but the allocation of funds between administrative expenses and direct assistance has been significantly altered.

FISCAL

Changed the fund usage requirement from 'no less than 50%' of funds must directly assist individuals or businesses to 'no more than 50%' of funds may be used for direct assistance, allowing up to 50% for administrative and operating expenses.

TECHNICAL

Updated the bill header and formatting to reflect it as the third substitute version with revised page numbering and timestamp information.

Substitute #1 → Substitute #2 · 4 edits

MODERATE

Substitute #2 reorganized the bill's formatting and page layout while maintaining the same substantive policy provisions. The core changes include adding page headers and footers with timestamps and version identifiers, renumbering sections to match a new page structure, and updating the 'Money Appropriated' language from 'operating and capital budgets' to 'business-like activities'. No substantive policy changes were made to eligibility criteria, funding amounts, or program requirements.

TECHNICAL

Page headers and footers were added with timestamps, version identifiers, and page numbers to improve document tracking and version control.

Highlighted provisions list was reformatted with bullet points (▸) and adjusted line spacing for readability.

The 'Money Appropriated' section was changed from 'operating and capital budgets' to 'business-like activities' with adjusted line breaks.

Section numbering and page breaks were reorganized to create a cleaner two-page document structure with consistent formatting.

Introduced → Enrolled · 8 edits · Mar 19, 2025

MODERATE

This bill was significantly rewritten between its introduction and final enrolled version. The most notable changes include renaming the fund from a 'Compensation Fund' to a 'Compensation Enterprise Fund', adding a specific sunset review date of July 1, 2028, increasing the initial appropriation from none to $10,000 for fiscal year 2026, and adding a specific parcel number exemption for one business. The bill also now requires closed insurance claim information as documentation for property loss claims and expanded the administrative authority to the office rather than a committee.

Scope change

The bill's scope expanded from creating a new compensation fund to also including specific administrative procedures, documentation requirements, and a sunset provision that was not present in the original version.

FISCAL

Initial appropriation changed from none to $10,000 for fiscal year 2026 from the General Fund

TIMELINE

Added a sunset review provision requiring review by July 1, 2028

DEFINITION

Fund name changed from 'Property Loss Related to Homelessness Compensation Fund' to 'Property Loss Related to Homelessness Compensation Enterprise Fund'

REQUIREMENT

Added requirement for closed insurance claim information with settlement amounts as documentation for property loss claims

Administrative authority changed from a committee to the office, with specific rules for loan program administration

Added specific authority for executive director to expend up to 4% of fund revenues for administrative expenses

ENFORCEMENT

Added specific exemption for business at parcel record number 15-26-326-016-0000 from receiving compensation

Added provision allowing State Tax Commission and Department of Commerce to charge a nominal fee for certificates of good standing

Property Loss Amendments

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