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Read. Follow. Verify.Utah bill establishes Phase Three Rural Jobs Act tax credits and amends investment criteria
Last action · March 6, 2026: House/ filedSponsors: Nelson Abbott and 1 other
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What This Bill Proposed
This bill authorizes phase three investment authority under the Utah Rural Jobs Act, enabling additional nonrefundable income and insurance tax credits for investments in small businesses located in rural counties, with applications beginning November 2, 2026. The legislation modifies small business eligibility requirements, updates reporting obligations, and establishes a special effective date of May 6, 2026, with tax provisions taking effect January 1, 2027.
Qualifying insurers and claimants can claim nonrefundable tax credits against insurance premium taxes or state income taxes for investments made through approved rural investment companies. The measure alters program compliance thresholds, application caps at $42,000,000 in total investment authority per phase, and reporting procedures monitored by the Governor's Office of Economic Opportunity.
Who It Would Have Affected
Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.
rural investment companies
Must comply with new application timelines, investment thresholds, reporting obligations, and potential revocation rules under phase three authority.
eligible small businesses
May receive growth investments from rural investment companies provided they meet employee, net income, and industry criteria.
insurers and claimants
Eligible to claim nonrefundable tax credits against insurance premium taxes or state income taxes based on credit-eligible capital contributions.
State Tax Commission
Tasked with enforcing taxes, collecting retaliatory fees, and disclosing taxpayer return information to the Governor's Office of Economic Opportunity upon authorization.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is phase three investment authority under the bill?
Which businesses qualify to receive growth investments under this program?
Can tax credits be carried forward if they exceed tax liability?
What happens if a rural investment company fails to invest its required capital?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
This bill did not become law - Died at adjournment · passed the House · on the Senate floor.
Procedural history
32 actions- Mar 6, 2026HouseHouse/ filed
- Mar 6, 2026HouseHouse/ received from Senate
- Mar 6, 2026SenateSenate/ to House
- Mar 6, 2026SenateSenate/ strike enacting clause
- Mar 4, 2026SenateSenate/ 2nd Reading Calendar to Rules
- Feb 27, 2026SenateSenate/ placed on 2nd Reading Calendar
Show 26 earlier actions
- Feb 27, 2026SenateSenate/ committee report favorable
- Feb 26, 2026SenateSenate Comm - Favorable Recommendation
- Feb 24, 2026SenateCommitteeSenate/ to standing committee
- Feb 23, 2026SenateIntroducedSenate/ 1st reading (Introduced)
- Feb 20, 2026SenateSenate/ received from House
- Feb 20, 2026HouseHouse/ to Senate
- Feb 20, 2026HouseFloorHouse/ passed 3rd reading
- Feb 20, 2026HouseHouse/ 3rd reading
- Feb 13, 2026ReleasedLFA/ fiscal note publicly available for HB0466S01
- Feb 13, 2026HouseHouse/ 2nd reading
- Feb 13, 2026HouseHouse/ comm rpt/ substituted
- Feb 12, 2026HouseHouse Comm - Favorable Recommendation
- Feb 12, 2026HouseHouse Comm - Substitute Recommendation
- Feb 12, 2026Version SponsorLFA/ fiscal note sent to sponsor for HB0466S01
- Feb 11, 2026Legislative Fiscal AgencyLFA/ bill sent to agencies for fiscal input for HB0466S01
- Feb 11, 2026Legislative Fiscal AnalystLFA/ bill assigned to staff for fiscal analysis for HB0466S01
- Feb 9, 2026HouseCommitteeHouse/ to standing committee
- Feb 6, 2026HouseHouse/ received fiscal note from Fiscal Analyst
- Feb 6, 2026ReleasedLFA/ fiscal note publicly available for HB0466
- Feb 5, 2026Version SponsorLFA/ fiscal note sent to sponsor for HB0466
- Feb 3, 2026HouseIntroducedHouse/ 1st reading (Introduced)
- Feb 3, 2026HouseHouse/ received bill from Legislative Research
- Feb 3, 2026Legislative Fiscal AgencyLFA/ bill sent to agencies for fiscal input for HB0466
- Feb 3, 2026Legislative Fiscal AnalystLFA/ bill assigned to staff for fiscal analysis for HB0466
- Feb 3, 2026Legislative Research and General CounselNumbered Bill Publicly Distributed
- Feb 3, 2026Legislative Research and General CounselBill Numbered but not Distributed
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Introduction of Phase Three Rural Jobs Program
The legislation establishes a structured timeline for a third round of rural investment authority starting in late 2026, building upon previous programs from 2017 and 2022.
Connected Entities
Sources
le.utah.gov
Analysis Score
0–100- Significance20Lowered because this bill did not pass (its text scored 75)
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz35Current news / social attention level
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