Tax Incentive Evaluation Law: Utah

Fact Sheet Read time:
Projects: Economic Development
Tax Incentive Evaluation Law: Utah

This page is no longer being updated. As of June 15, 2017, newer tax incentive evaluation fact sheets are available here.

To ensure that economic development tax incentives are achieving their goals effectively, many states have approved laws requiring regular, rigorous, independent evaluations of these programs. For a list of states that have passed evaluation laws since the start of 2012, click here.

Utah

H.B. 3001, enacted July 17, 2016

What it does

Requires evaluation of all major tax incentives

The Legislature’s Revenue and Taxation Interim Committee reviews existing tax credits on a three-year cycle and studies any newly created credits within three years of their effective dates.

The committee’s reviews are informed by data and analysis from the nonpartisan staff of the Office of the Legislative Fiscal Analyst and from executive branch agencies.

Connects reviews to policymaking

The committee holds hearings to conduct the reviews, inviting interested individuals and organizations to provide testimony.

The committee must make recommendations to the full Legislature to continue, modify, or repeal each credit.

Excerpt from Utah’s law: The committee’s review process

In conducting the review required under Subsection (2)(a), the [Revenue and Taxation Interim Committee] shall:

(i) schedule time on at least one committee agenda to conduct the review;

(ii) invite state agencies, individuals, and organizations concerned with the tax credit under review to provide testimony;

(iii) (A) invite the Governor's Office of Economic Development to present a summary and analysis of the information for each tax credit regarding which the  Governor's Office of Economic Development is required to make a report under this chapter; and

(B) invite the Office of the Legislative Fiscal Analyst to present a summary and analysis of the information for each tax credit regarding which the Office of  the Legislative Fiscal Analyst is required to make a report under this chapter.

America’s Overdose Crisis
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Quick View
America’s Overdose Crisis

America’s Overdose Crisis

Sign up for our five-email course explaining the overdose crisis in America, the state of treatment access, and ways to improve care

Sign up
Traffic lights
Traffic lights
Issue Brief January 21, 2015

Tax Incentive Programs: Evaluate Today, Improve Tomorrow

Quick View
Traffic lights
Issue Brief January 21, 2015

This report advises states on how to design and implement tax incentive evaluation laws, so that these programs are studied regularly and rigorously and so that lawmakers can use the findings to improve economic development policy.

MEDIA CONTAct
Catherine An Senior Officer, Communications 202.552.2088
RELATED
Topics
U.S. State Policy Fiscal & Economic Policy
Projects
Economic Development
Places
Utah

ADDITIONAL RESOURCES

A presentation being given by a businesswoman to a group of participants at a business conference.

Fact Sheet

April 12, 2024 Four Plan Features Can Boost 'Retirement Readiness'
An illustration of a couple holding hands walking away from an outline of houses behind them

Podcast

March 22, 2024 Pathways to Homeownership: Housing in America
Water-logged furniture and rugs are piled on grass in front of a small white house. Behind the house is a steep grassy hill, and beside the house is a black all-terrain vehicle. In front of the pile is an orange construction sign.

Article

February 27, 2024 Why West Virginia Should Invest in Flood Resilience

MORE FROM PEW

A large group of people in formal or traditional attire stands together on a stage, with a digital background depicting marine life and the large text “WTO Agreement on Fisheries Subsidies.” WTO Needs to Redouble Its Effort on Fishing Subsidies
A man in a winter hat and sunglasses kneels on a rocky shoreline in front of a campfire, holding a metal mug with gloved hands. Behind him, in the water, a motorboat is moored to the shore. Cliffs rise on both sides of the water. Why Newfoundland’s South Coast Fjords Are Sacred
A landscape with mountains and clouds. BLM Rule Puts Conservation, Other Land Uses on Equal Footing
A pink sea coral made up of many branches—with a slender sea star clinging to those branches—fans out against the black backdrop of the deep ocean. Fishery Managers Can Help Prized Fish—and Biodiversity
Composite image of modern city network communication concept

Learn the Basics of Broadband from Our Limited Series

Sign up for our four-week email course on Broadband Basics
Quick View

How does broadband internet reach our homes, phones, and tablets? What kind of infrastructure connects us all together? What are the major barriers to broadband access for American communities?

Pills illustration
Pills illustration

What Is Antibiotic Resistance—and How Can We Fight It?

Sign up for our four-week email series The Race Against Resistance.
Quick View
Pills illustration

Antibiotic-resistant bacteria, also known as “superbugs,” are a major threat to modern medicine. But how does resistance work, and what can we do to slow the spread? Read personal stories, expert accounts, and more for the answers to those questions in our four-week email series: Slowing Superbugs.