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Utah businesses that pay federal tariffs — customs fees charged on goods imported into the country — could receive a state income tax credit under this bill, but only for tariff costs the business absorbs itself rather than passing on to customers. To claim the credit, a business would need to apply to the Governor's Office of Economic Opportunity for written certification confirming its eligibility and the exact credit amount, which would equal the total qualifying tariff payments made during the year multiplied by the state income tax rate; the credit could not be carried forward or back to other tax years if it exceeds what the business owes. The Governor's Office of Economic Opportunity would gain new authority to write rules for this certification process and would be required to report annually to the State Tax Commission on which businesses received certification and for how much. These changes would apply retroactively starting with the 2026 tax year.