S.B. 270
         MODIFICATIONS TO SALES AND USE TAX

Senate Floor Amendments

Amendment 1 February 28, 2011 8:08 AM



Senator J. Stuart Adams proposes the following amendments:

1.    Page 1, Lines 13 through 18 :    

             13          .    increases the state sales and use tax rate on food and food ingredients to the general
             14      state sales and use tax rate;
      .      reduces the general state sales and use tax rate;      

             15          .    adjusts
  state       sales and use        tax       allocations      {   to the Centennial Highway Fund Restricted

             16      Account   }
  for transportation purposes       ;

             17          .    provides that food and food ingredients are taxable for purposes of certain local
             18      option sales and use taxes; and

2.    Page 72, Line 2226 through Page 73, Line 2245 :    

             2226          [(b)] (8) (a) Notwithstanding Subsection (3)(a), in addition to the amount deposited in
             2227      Subsection (7)(a), and until Subsection (8)[(c)](b) applies, for a fiscal year beginning on or
             2228      after July 1, 2011, the Division of Finance shall deposit into the Centennial Highway Fund
             2229      Restricted Account created by Section 72-2-118 a portion of the taxes listed under Subsection
             2230      (3)(a) equal to [8.3%]
{   7.6%   }        8.3%       of the revenues collected from the following taxes, which

             2231      represents a portion of the approximately 17% of sales and use tax revenues generated annually
             2232      by the sales and use tax on vehicles and vehicle-related products:
             2233          (i) the tax imposed by Subsection (2)(a)(i)(A); and
             2234          (ii) the tax imposed by Subsection (2)(b)(i)[;].
             2235          [(iii) the tax imposed by Subsection (2)(c)(i); and]
             2236          [(iv) the tax imposed by Subsection (2)(d)(i)(A)(I).]
             2237          [(c)] (b) Notwithstanding Subsection (3)(a) and in addition to the amounts deposited
             2238      under Subsection (7)(b), when the highway general obligation bonds have been paid off and the
             2239      highway projects completed that are intended to be paid from revenues deposited in the
             2240      Centennial Highway Fund Restricted Account as determined by the Executive Appropriations
             2241      Committee under Subsection 72-2-118 (6)(d), the Division of Finance shall deposit into the
             2242      Transportation Investment Fund of 2005 created by Section 72-2-124 a portion of the taxes
             2243      listed under Subsection (3)(a) equal to [8.3%]
{   7.6%   }        8.3%       of the revenues collected from the

             2244      following taxes, which represents a portion of the approximately 17% of sales and use tax
             2245      revenues generated annually by the sales and use tax on vehicles and vehicle-related products:

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