Enactment of this legislation could increase revenue to the newly-created Workforce Development Restricted Account by $6,076,300 one-time in FY 2019 and $20,344,500 ongoing beginning in FY 2020 due to a reallocation of resources from USTAR and the Governor''s Office of Economic Development (GOED).

Enactment of this bill could decrease funding to the Utah Science Technology and Research (USTAR) Governing Authority by $11,427,900 one-time in FY 2019 and $6,519,000 ongoing from the General Fund beginning in FY 2019 by removal of mandate to fund the salaries of university researchers. Additionally, it replaces $14,226,600 of USTAR''s ongoing funding from the General Fund with one-time, causing USTAR''s budget to reduce by the same amount ongoing beginning in FY 2020. Enactment of this legislation replaces $2,598,900 of the Governor''s Office of Economic Development''s (GOED) ongoing funding from the General Fund with one-time funds from the General Fund, causing GOED''s budget to reduce by the same amount ongoing beginning in FY 2020. Enactment of this legislation could cost the University of Utah $3,692,700 one-time in FY 2019 and $2,000,000 ongoing beginning in FY 2020 to pay for the salaries and start-up costs of researchers who were formerly funded by USTAR. Enactment of this legislation could cost Utah State University $1,658,900 one-time in FY 2019 and $1,000,000 ongoing beginning in FY 2020 to pay for the salaries and start-up costs of researchers who were formerly funded by USTAR. Enactment of this legislation could cost the Department of Administrative Services $1,800 one-time in FY 2019 and $1,200 ongoing beginning in FY 2020 to cover the costs of the creation and maintenance of a new fund, the Workforce Development Restricted Account.