MINUTES OF THE

SENATE REVENUE AND TAXATION STANDING COMMITTEE

Room 250, Utah State Capitol

February 26, 2016

Members Present: Sen. Deidre M. Henderson, Chair

Sen. Curtis S. Bramble

Sen. Jim Dabakis

Sen. Wayne Harper

Sen. Howard Stephenson

Member Excused: Sen. Gene Davis

President Wayne L. Niederhauser

Staff Present: Mr. Leif Elder, Policy Analyst

Ms. Nancy Skidmore, Committee Secretary

NOTE: A list of visitors and a copy of handouts are filed with the committee minutes.

Chair Henderson called the meeting to order at 8:08 a.m.

MOTION: Sen. Harper moved to approve the minutes of the February 24, 2016 meeting. The motion passed unanimously with Sen. Bramble and Sen. Stephenson.

S.J.R. 4 Proposal to Amend Utah Constitution –Education Funding (Sen. J. Dabakis)

Sen. Dabakis explained the bill to the committee.

Spoke to the bill: Mr. David Buhler, Commissioner of Higher Education

MOTION: Sen. Bramble moved to go to the next item on the agenda. The motion passed unanimously.

S.B. 168 Property Tax Revisions (Sen. C. Bramble)

MOTION: Sen. Bramble moved that the bill be studied in the interim. The motion passed unanimously.

S.B. 171 Economic Development Tax Credits Amendments (Sen. C. Bramble)

Sen. Bramble explained the bill to the committee.

Spoke to the bill: Commissioner Rebecca Rockwell, Utah State Tax Commission

Mr. Jerry Oldroyd, Attorney

Spoke for the bill: Ms. Kelly Slone, President and Chief Executive Officer, BioUtah

Mr. Andrew Laver, Salt Lake Life Science Angels

Mr. Ken Savage, Founder and Chief Executive Officer, PhotoPharmics

MOTION: Sen. Bramble moved to pass the bill out favorably. The motion passed unanimously.

MOTION: Sen. Harper moved to adjourn. The motion passed unanimously.

Chair Henderson adjourned the meeting at 9:04 a.m.

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Sen. Deidre M. Henderson, Chair