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Analysts: Utah's debt levels are low; staff recommends rescinding $70M GO authorization and standardizing GRAMA fee
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Summary
LFA staff reported Utah's general obligation and lease-revenue debt are at the low end of 10-year ranges and urged rescinding a $70 million GO bond authorization from HB 502 in favor of cash funding; staff also recommended fixing the GRAMA fee as an hourly rate rather than "actual cost."
Noah Hanson, staff economist with the Office of the Legislative Fiscal Analyst, told the Transportation and Infrastructure Appropriations Subcommittee that Utah's FY2025 general obligation bond balance stood at about $1.16 billion and lease revenue bond debt at about $242 million — both near the lower end of their 10-year ranges — and that annual debt service appropriations were approximately $443.21 million.
Hanson explained the LFA recommendation to rescind the $70 million GO bond authorization in HB 502 and instead cash-fund the associated program from a one-time set-aside established by the Executive Appropriations Committee. He said the original authorization (passed in 2025) was tied to transportation infrastructure funding and that using cash available from set-asides would avoid issuing new GO bonds for that amount.
On fees, Hanson noted the state treasurer currently levies a GRAMA (government records access) fee set at "actual cost." LFA staff recommended moving to a standardized, trackable dollar amount tied to the hourly wage of the executive assistant (an example figure presented was $38.75 per hour) to increase transparency and predictability.
Hanson's presentation included 10-year charts and debt-to-debt-limit comparisons and concluded with an invitation for questions from committee members.
