SALT LAKE CITY – As usual, Utah lawmakers passed a budget for Fiscal Year 2023 in the closing minutes of their general legislative session on Mar. 4.
Sen. Chris Wilson (R-Logan) reports that the historic $25 billion spending package funded education and social services at record levels while significantly investing in water and infrastructure projects.
“We also implemented a $193 million tax cut for Utahns, the second tax cut in two years,” Wilson adds.
That tax cut includes an income tax rate reduction from 4.95 to 4.85 percent worth $163 million annually; a $16 million nonrefundable earned income tax credit; and a $15 expansion of the state’s Social Security tax credit.
Although the budget was augmented with healthy doses of federal money, Wilson says lawmakers still took a conservative approach to spending amid concerns about increasing inflation.
“We were able to fund important issues and programs,” he explains, “while still planning for the future, thanks to sound fiscal policy.”
The bulk of the federal money for COVID-19 relief received this year (about $1 billion in one-time funds) was allocated for infrastructure projects statewide on Mar. 3.
Another $2 billion was allocated for multiple urgent needs including water conservation and preservation of the Great Salt Lake.
Those water conservation projects include $250 million in federal funds for secondary water metering; $40 million to preserve the Great Salt Lake; and $5 million to encourage homeowners to reduce irrigation water consumption by xeriscaping their property.
Wilson lists some other budget priorities as $383 million for education, a 9 percent increase; nearly $125 million for Utah’s basic school formula, boosting the total value of the Weighted Pupil Unit by 6 percent; $19 million in one-time and ongoing funding for early literacy outcome improvements; $15 million for affordable housing; $55 million to address homelessness concerns; and $38 million for improved access to outdoor recreation and state parks.
The Weighted Pupil Unit or “WPU” is the per-student metric used by Utah officials to calculate the amount of state funds for which a school district is eligible.
The goal of the Utah’s early literacy outcomes initiative is to improve 3rd grade reading scores statewide.
While discussing the 2023 budget, Wilson took pains to express his gratitude to legislative colleagues and stakeholders who helped to ensure that northern Utah received an adequate slice of the state money pie.
Projects in Wilson’s state Senate District 25 in line for funding next year include the expansion of the Bear Lake Marina ($60 million); preservation of Bear Lake ($30 million); expansion of the Bridgerland Technical College land bank ($16 million); and establishment of veterinary college at Utah State University ($96 million over three years).
Although Gov. Spencer Cox and the Legislature failed to see eye-to-eye on all of the budget’s provisions, the governor has indicated that he will approve the spending package for 2023.