Utah § 63J-1-205 Revenue volatility report.

Utah Statutes

§ 63J-1-205 — Revenue volatility report.

Utah § 63J-1-205

Title 63JBudgeting

Ch. 63J-1Budgetary Procedures Act

Part 63J-1-2Budget Process, Appropriations, and Expenditures

This text of Utah § 63J-1-205 (Revenue volatility report.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 63J-1-205 (2026).

Text

(1)Beginning in 2011 and continuing every three years after 2011, the Legislative Fiscal Analyst and the Governor's Office of Planning and Budget shall submit a joint revenue volatility report to the Executive Appropriations Committee prior to the committee's December meeting.

(2)The Legislative Fiscal Analyst and the Governor's Office of Planning and Budget shall ensure that the report:

(2)(a) discusses the tax base and the tax revenue volatility of the revenue streams that provide the source of funding for the state budget;

(2)(b) considers federal funding included in the state budget and any projected changes in the amount or value of federal funding;

(2)(c) identifies the balances in the General Fund Budget Reserve Account and the Income Tax Fund Budget Reserve Account;

(2)(d) analy

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Beginning in 2011 and continuing every three years after 2011, the Legislative Fiscal Analyst and the Governor's Office of Planning and Budget shall submit a joint revenue volatility report to the Executive Appropriations Committee prior to the committee's December meeting.
(2) The Legislative Fiscal Analyst and the Governor's Office of Planning and Budget shall ensure that the report:

(2)(a) discusses the tax base and the tax revenue volatility of the revenue streams that provide the source of funding for the state budget;
(2)(b) considers federal funding included in the state budget and any projected changes in the amount or value of federal funding;
(2)(c) identifies the balances in the General Fund Budget Reserve Account and the Income Tax Fund Budget Reserve Account;
(2)(d) analyzes the adequacy of the balances in the General Fund Budget Reserve Account and the Income Tax Fund Budget Reserve Account in relation to the volatility of the revenue streams and the risk of a reduction in the amount or value of federal funding;
(2)(e) recommends changes to the deposit amounts or transfer limits established in Sections 63J-1-312 and 63J-1-313, if the Legislative Fiscal Analyst and Governor's Office of Planning and Budget consider it appropriate to recommend changes; and
(2)(f) presents options for a deposit mechanism linked to one or more tax sources on the basis of each tax source's observed volatility, including:
(2)(f)(i) an analysis of how the options would have performed historically within the state;
(2)(f)(ii) an analysis of how the options will perform based on the most recent revenue forecast; and
(2)(f)(iii) recommendations for deposit mechanisms considered likely to meet the budget reserve account targets established in Sections 63J-1-312 and 63J-1-313.