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 25, 2013

Madam Speaker:

    The Revenue and Taxation Committee recommends H.B. 96, CLEANER BURNING FUELS TAX CREDITS AMENDMENTS, by Representative J. Draxler, be replaced and reports a favorable recommendation on 1st Sub. H.B. 96, CLEANER BURNING FUELS TAX CREDITS AMENDMENTS with the following amendments:


1.    Page 1, Line 1 :    

             1     

CLEANER BURNING FUELS TAX CREDITS AMENDMENTS
  AND RELATED
FUNDING  


2.    Page 1, Line 9 :    

             9          This bill amends corporate and individual income tax credits for cleaner burning fuels
  and provides for transfers from the General Fund into the Education Fund in the amount of tax credit claimed minus $500,000       .


3.    Page 1, Lines 11 through 16 :    

             11          This bill:
             12          .    defines terms;
             13          .    modifies eligibility requirements to claim tax credits for cleaner burning fuels;
             14          .    extends corporate and individual income tax credits for cleaner burning fuels until
             15      the end of taxable year 2018;
{   and   }

  . requires transfers from the General Fund into the Education Fund in the amount of tax credit claimed minus $500,000;

. grants rulemaking authority to the State Tax Commission; and  

             16          .    makes technical and conforming changes.

4.    Page 6, Line 170 :    

             170          [(6) The tax credit provided by this section may be taken only once per vehicle.]
  (6) In accordance with any rules prescribed by the commission under Subsection (7), the commission shall transfer at least annually from the General Fund into the Education Fund an amount equal to the difference between:

(a) the amount of tax credit claimed under this section; and
(b) $500,000.
(7) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules for making a transfer from the General Fund into th Education Fund as required by Subsection (6).  


5.    Page 11, Line 308 :    

             308          [(6) The tax credit provided by this section may be taken only once per vehicle.]
(6) In accordance with any rules prescribed by the commission under Subsection (7), the commission shall transfer at least annually from the General Fund into the Education Fund an amount equal to the difference between:
(a) the amount of tax credit claimed under this section; and

(b) $500,000.
(7) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules for making a transfer from the General Fund into th Education Fund as required by Subsection (6).

    Respectfully,

    Ryan D. Wilcox
    Committee Chair

Voting: 13-0-3
7 HB0096.HC1.wpd 2/25/13 10:04 am phildean/PVD RLR/PVD

Bill Number
Action Class
Action Code

*HB0096S01*
*H*
*HCRSUBAMD*

 HB0096S01
H
HCRSUBAMD