On June 17, 2022, Governor Reynolds signed Senate File 2367 into law. Division II of the bill changes LOST and SAVE distributions from estimated payments to actual amounts collected each month. As a transition, the first two monthly payments of Fiscal Year 2023 (August and September 2022) will be based on estimates and the remaining ten monthly payments (October 2022 through July 2023) will be based on actual collections.
The Department plans to make the Fiscal Year 2022 reconciliation payment in September 2022 rather than November as we have done in the past. This will be the last reconciliation payment before the change to actual distributions.
While distributions will no longer be based on estimates, the Department will still publish annual SAVE estimates. The Department will publish the yearly estimates on the Department’s website in the Reports Index under Local Government > LOST / SAVE. We will send an email notification when they have been posted. To receive notifications of resources and guidance issued by the Department, subscribe to updates by selecting the tax topics of interest.