House of Representatives
State of Utah
UTAH STATE CAPITOL COMPLEX . 350 STATE CAPITOL
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P.O. BOX 145030 . SALT LAKE CITY, UTAH 84114-5030 . (801) 538-1029 February 24, 2012
Madam Speaker:
The Revenue and Taxation Committee recommends H.B. 299, TAX REVISIONS, by
Representative J. Dougall, be replaced and reports a favorable recommendation on 1st Sub. H.B. 299,
TAX REVISIONS with the following amendments:
Respectfully,
Patrick Painter
1. Page
2, Lines 49 through 51
:
49
(d)
The sum of the nonrefundable tax credit claimed under Subsection
(2)(a) and any
50
excess amount carried forward pursuant to Subsection (2)(c) may not exceed 5% of
the
51
claimant's tax liability before tax credits under this chapter.
}
(d) Notwithstanding Subsections (2)(a) and (c), a claimant may not claim for a
taxable year a total amount that exceeds 5% of the claimant's tax liability before
credits under this chapter from:
(i) the amount of a nonrefundable tax credit claimed under Subsection
(2)(a); and
(ii) an amount carried forward pursuant to Subsection (2)(c).
Committee Chair
Voting: 9-4-3
7 HB0299.HC1.wpd 2/24/12 9:53 am phildean/PVD RLR/PVD
Bill Number
*HB0299S01*
HB0299S01