(1)Within three business days after the day on which the lieutenant governor receives an initiative application, the lieutenant governor shall submit a copy of the initiative application to the Office of the Legislative Fiscal Analyst.
(2)(2)(a) Except as provided in Subsection (2)(b), the Office of the Legislative Fiscal Analyst shall prepare an unbiased, good faith initial fiscal impact statement for the proposed law, not exceeding 100 words plus 100 words per revenue source created or impacted by the proposed law, that contains:
(2)(a)(i) a description of the total estimated fiscal impact of the proposed law over the time period or time periods determined by the Office of the Legislative Fiscal Analyst to be most useful in understanding the estimated fiscal impact of the proposed law;
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(1) Within three business days after the day on which the lieutenant governor receives an initiative application, the lieutenant governor shall submit a copy of the initiative application to the Office of the Legislative Fiscal Analyst.
(2) (2)(a) Except as provided in Subsection (2)(b), the Office of the Legislative Fiscal Analyst shall prepare an unbiased, good faith initial fiscal impact statement for the proposed law, not exceeding 100 words plus 100 words per revenue source created or impacted by the proposed law, that contains:
(2)(a)(i) a description of the total estimated fiscal impact of the proposed law over the time period or time periods determined by the Office of the Legislative Fiscal Analyst to be most useful in understanding the estimated fiscal impact of the proposed law;
(2)(a)(ii) if the proposed law would increase taxes, decrease taxes, or impose a new tax, a dollar amount representing the total estimated increase or decrease for each type of tax affected under the proposed law, a dollar amount showing the estimated amount of a new tax, and a dollar amount representing the total estimated increase or decrease in taxes under the proposed law;
(2)(a)(iii) if the proposed law would increase a particular tax or tax rate, the tax percentage difference and the tax percentage increase for each tax or tax rate increased;
(2)(a)(iv) if the proposed law will be funded, in whole or in part, from new revenues, a description of the amount and source of the new revenues;
(2)(a)(v) if the proposed law will be funded, in whole or in part, from existing revenues, a description of:
(2)(a)(v)(A) the existing line items or programs that will receive less funding in order to fund the proposed law and the amount by which the funding will be reduced; and
(2)(a)(v)(B) the likely impact of the reduction in funding described in Subsection (2)(a)(v)(A);
(2)(a)(vi) if the proposed law would result in the issuance or a change in the status of bonds, notes, or other debt instruments, a dollar amount representing the total estimated increase or decrease in public debt under the proposed law;
(2)(a)(vii) a dollar amount representing the estimated cost or savings, if any, to state or local government entities under the proposed law;
(2)(a)(viii) if the proposed law would increase costs to state government, a listing of all sources of funding for the estimated costs; and
(2)(a)(ix) a concise description and analysis titled "Funding Source," not to exceed 100 words for each funding source, of the funding source information described in Subsection 20A-7-202(2)(e)(ii).
(2)(b) If the proposed law is estimated to have fiscal impact of less than the amount specified by joint legislative rule for designating a bill as a fiscal note bill, the Office of the Legislative Fiscal Analyst shall prepare the initial fiscal impact statement to read substantially as follows: "The Office of the Legislative Fiscal Analyst estimates that the law proposed by this initiative would have no significant fiscal impact and would not result in either an increase or decrease in taxes or debt."
(3) Within 25 calendar days after the day on which the lieutenant governor delivers a copy of the initiative application, the Office of the Legislative Fiscal Analyst shall:
(3)(a) send a copy of the initial fiscal impact statement to the lieutenant governor's office; and
(3)(b) send a copy of the initial fiscal impact statement to the first five sponsors named in the initiative application.
(4) (4)(a) (4)(a)(i) Three or more of the sponsors of the initiative petition may, within 20 calendar days after the day on which the Office of the Legislative Fiscal Analyst delivers the initial fiscal impact statement to the lieutenant governor's office, file a petition with the appropriate court, alleging that the initial fiscal impact statement, taken as a whole, is an inaccurate estimate of the fiscal impact of the initiative.
(4)(a)(ii) After receipt of the appeal, the court shall direct the lieutenant governor to send notice of the petition filed with the court to:
(4)(a)(ii)(A) any person or group that has filed an argument with the lieutenant governor's office for or against the initiative that is the subject of the challenge; and
(4)(a)(ii)(B) any political issues committee established under Section 20A-11-801 that has filed written or electronic notice with the lieutenant governor that identifies the name, mailing or email address, and telephone number of the person designated to receive notice about any issues relating to the initiative.
(4)(b) (4)(b)(i) There is a presumption that the initial fiscal impact statement prepared by the Office of the Legislative Fiscal Analyst is based upon reasonable assumptions, uses reasonable data, and applies accepted analytical methods to present the estimated fiscal impact of the initiative.
(4)(b)(ii) The court may not revise the contents of, or direct the revision of, the initial fiscal impact statement unless the plaintiffs rebut the presumption by clear and convincing evidence that establishes that the initial fiscal impact statement, taken as a whole, is an inaccurate statement of the estimated fiscal impact of the initiative.
(4)(b)(iii) The court may refer an issue related to the initial fiscal impact statement to a master to examine the issue and make a report in accordance with Utah Rules of Civil Procedure, Rule 53.
(4)(c) The court shall certify to the lieutenant governor a fiscal impact statement for the initiative that meets the requirements of this section.