63J-3-202 - Computing formula elements. - Utah Statutes

63J-3-202. Computing formula elements.
(1) For purposes of calculating fiscal year inflation indexes for the previous fiscal year,the Governor's Office of Planning and Budget shall use:
(a) the actual quarterly data released by the U.S. Department of Commerce as of January31 of each year; and
(b) the most recent U.S. Bureau of Census population estimates as of January 31 of eachyear.
(2) (a) For purposes of computing the inflation index, the Governor's Office of Planningand Budget shall:
(i) assign the bureau's 1982 calendar year inflation index value of 100 to fiscal year 1989for purposes of computing fiscal year index values;
(ii) compute all subsequent fiscal year inflation indexes after having assigned the fiscalyear 1989 inflation index a value of 100; and
(iii) use the quarterly index values published by the Bureau of Economic Analysis, U.S.Department of Commerce, to compute fiscal year index values.
(b) If the bureau changes its calendar base year, appropriate adjustments are to be madein this chapter to accommodate those changes.
(3) (a) For purposes of computing the most recent fiscal year's population, theGovernor's Office of Planning and Budget shall convert the April 1 decennial census estimate toa July 1 estimate, unless otherwise estimated by the Bureau of Census.
(b) If the bureau changes the state's July 1, 1983 base year population after it conductsthe 1990 Census, appropriate adjustments shall be made in this chapter to accommodate thosechanges.

Renumbered and Amended by Chapter 382, 2008 General Session