SREV0125 Converted WP Minutes

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MINUTES OF THE
SENATE REVENUE AND TAXATION STANDING COMMITTEE MEETING
FRIDAY, JANUARY 25, 2008, 2:00 P.M.
ROOM W130, WEST OFFICE BUILDING, STATE CAPITOL COMPLEX

Members Present:    Sen. Wayne L. Niederhauser, Chair     Sen. Curtis S. Bramble
    Sen. Brent Goodfellow
    Sen. Jon J. Greiner
    Sen. Howard A. Stephenson
    Sen. Michael G. Waddoups

Members Excused:    Pres. John Valentine
    Sen. Mike Dmitrich

Staff Present:    Bryant Howe, Assistant Director, Office of Legislative Research and General Counsel
    Karen Allred, Committee Secretary

Public Speakers Present:    Courtney White, Utah Education Association
    Tom Bingham, Utah Manufacturers Association
    Bruce Johnson, Commissioner, Utah State Tax Commission     Richard Nelson, President, Utah Technology Council
    Jeremy Neilson, Manager, Director, Utah Fund of Funds
    Lincoln Shurtz, Director of Legislative Affairs, Utah League of      Cities and Towns
    Steven H. Peterson, Executive Director, Utah School Boards      Association, Utah School Superintendents Association
    Allison Rowland, Director of Research and Budget, Voices for      Utah Children
    Ronald Mortensen, Citizens Coalition for Tax Fairness
    Royce VanTassell, Vice President, Utah Taxpayers Association
    Derek Monson, Policy Analyst, Sutherland Institute
    Kevin Carter, Director, School Trust Fund Association
    Brent Gardner, Executive Director, Utah Association of Counties
    John Reidhead, Director, Division of Finance
    LeGrand Bitter, Director, Utah Association of Special Districts

A list of visitors and a copy of handouts are filed with the Committee minutes.

Chair Niederhauser called the meeting to order at 2:09 p.m. and announced that S.B. 29 would not be heard today.

Approval of Minutes

    MOTION: Sen. Greiner moved to approve the minutes of January 23, 2008.

    The motion passed unanimously with Sens. Bramble and Goodfellow absent for the vote.

1.    S.B. 28 Apportionment of Business Income, Attributing Sales to the State, and     Deduction of Net Losses by a Unitary Group (H. Stephenson)
    Sen. Stephenson explained the bill.

    Courtney White, Utah Education Association, spoke in opposition to the bill.

    Tom Bingham, Utah Manufacturers Association, spoke in support of the bill.

    Bruce Johnson, Commissioner, Utah State Tax Commission, spoke to the bill.

     MOTION: Sen. Stephenson moved to pass S.B. 28 out of Committee with a favorable     recommendation.

    The motion passed unanimously with Sens. Bramble and Goodfellow absent for the vote.

Sen. Greiner assumed the Committee Chair.

2.    S.B. 64 Income Tax - Capital Gain Transactions (W. Niederhauser)

    Committee Chair Niederhauser explained the bill.

    Richard Nelson, President, Utah Technology Council and Jeremy Neilson, Manager,     Director, Utah Fund of Funds, spoke in support of the bill.

     MOTION: Chair Neiderhauser moved to pass S.B. 64 out of Committee with a favorable     recommendation.

    The motion passed unanimously with Sen. Goodfellow absent for the vote.

3.    S.B. 38 Transparency in Government Finance (W. Niederhauser)

     MOTION: Chair Niederhauser moved to adopt 1st Sub. 38.

    The motion passed unanimously with Sen. Goodfellow absent for the vote.

    Chair Niederhauser explained the bill.

    Allison Rowland, Director of Research and Budget, Voices for Utah Children; Ron     Mortensen, Citizens Coalition for Tax Fairness; Royce VanTassell, Vice President, Utah     Taxpayers Association; and Derek Monson, Policy Analyst, Sutherland Institute; spoke in     support of the bill.

    Kevin Carter, Director, School Trust Fund Association, and LeGrand Bitter, Director, Utah     Association of Special Districts, spoke in opposition to the bill.

    Lincoln, Shurtz, Director of Legislative Affairs, Utah League of Cities and Towns; Steven     H. Peterson, Executive Director, Utah School Board Association, Utah School     Superintendents Association; Brent Gardner, Executive Director, Utah Association of     Counties; and John Reidhead, Director, Division of Finance, spoke to the bill.

    MOTION: Sen. Stephenson moved to pass 1st Sub. S.B. 38 out of Committee with a     favorable recommendation.

    The motion passed with Sens. Niederhauser, Goodfellow, Stephenson and Waddoups voting     in favor of the bill, Sen. Greiner voting in opposition and Sen. Bramble absent for the vote.

     MOTION: Sen. Stephenson voted to adjourn.

    The motion passed unanimously at 3:55 p.m. with Sen. Bramble absent for the vote.







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            Sen. Wayne L. Niederhauser, Committee Chair