59-1-213. Annual report on Internal Revenue Code changes.

275 words·~1 min read·/ut/title-59/chapter-1/59-1-213·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Effective 5/6/2026

(1)The commission shall annually provide an electronic report to the Revenue and Taxation Interim Committee on or before October 1 concerning the impacts of the reliance of this title on the Internal Revenue Code, including:

(a)any modification to the Internal Revenue Code that is likely to have a fiscal impact on state revenues:

(i)that became effective:

(A)if the commission is preparing its initial report in accordance with this section, during the previous calendar year; or

(B)if the commission has prepared a previous report in accordance with this section, after the most recent report prepared in accordance with this section; or

(ii)that have been enacted and will become effective prior to the end of the calendar year that begins January 1 following the current report prepared in accordance with this section;

(b)the fiscal impacts a modification described in Subsection (1)(a) may have on state revenues; and

(c)statutory or administrative options to:

(i)implement the effects on this title of a modification described in Subsection (1)(a); or

(ii)change this title to prevent this title from implementing a modification described in Subsection (1)(a).

(2)In a year in which the commission, the Office of the Legislative Fiscal Analyst, and the Governor's Office of Planning and Budget predict a material increase in state income tax revenue for the next fiscal year by consensus in accordance with Section 59-1-214 , the commission shall submit the report described in Subsection 59-1-214(4)(a) as part of the report required under this section for the same year.

Amended by Chapter 299 , 2026 General Session