Income Tax Credit Review Amendments
SB 43 changes how Utah reviews state income tax credits. It extends the review cycle from three to five years and requires the Office of the Legislative Auditor General to annually audit these credits, either based on recommendations from the Revenue and Taxation Committee or by selecting credits with high usage or fraud risk. This affects state agencies managing tax credits and businesses claiming them, as the audits will assess credit costs, effectiveness, and state benefits. The bill makes procedural changes to existing review processes without creating new credits or appropriating funds.
Bill status
signed
all 5 stages cleared
Introduction
Jan 2025
Committee Review
Jan 2025
Senate Passage
Feb 2025
House Passage
Jan 2025
Signed into Law
Mar 2025
Introduced Jan 21, 2025
Signed Mar 26, 2025
Maddy AI version diff · 2 comparisons
What changed between versions
Substitute #1
→
Enrolled
·
4 edits
·
Mar 26, 2025
MODERATE
This bill updates the legislative process for reviewing Utah's income tax credits, extending the review cycle from three years to five years to reduce administrative burden. It also establishes a new requirement for the Office of the Legislative Auditor General to conduct comprehensive performance audits of these credits upon referral by the Revenue and Taxation Interim Committee. The text includes significant formatting corrections and structural reorganization to align the specific credit sections with the new review timeline.
Scope change
The bill expands the scope of oversight by adding a mandatory audit component for tax credits and extends the review frequency for all affected tax credits from every three years to every five years.
TIMELINE
Extended the mandatory review cycle for income tax credits from every three years to every five years.
ENFORCEMENT
Created a new requirement for the Office of the Legislative Auditor General to conduct comprehensive performance audits of income tax credits.
REQUIREMENT
Added a process allowing the Revenue and Taxation Interim Committee to refer specific tax credits to the auditor for review.
TECHNICAL
Corrected formatting errors, inconsistent numbering, and structural issues in the text of multiple tax credit sections.
Floor votes
How they voted
This bill passed the Senate by voice vote (no roll call recorded).
Full legislative history
Actions timeline
Total actions
41
Key actions
6
Committee
2
Amendments
1
Mar 26, 2025
Signed into law
Governor Signed
executive
Feb 21, 2025
Legislature · Passed
Senate/ signed by President/ sent for enrolling
legislature
Feb 20, 2025
Upper · Passed
House/ signed by Speaker/ returned to Senate
upper
Feb 20, 2025
Lower · Passed
Senate/ concurs with House amendment
lower
Feb 19, 2025
Upper · Passed
House/ passed 3rd reading
upper
Jan 27, 2025
Lower · Passed
House Comm - Favorable Recommendation
lower
Jan 23, 2025
Committee
House/ to standing committee
lower
Jan 22, 2025
Introduced
House/ 1st reading (Introduced)
lower
Jan 21, 2025
Introduced
Senate/ 1st reading (Introduced)
upper
1 primary · 1 co-sponsor
Sponsors
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