AGENDA

REVENUE AND TAXATION INTERIM COMMITTEE

UTAH LEGISLATURE

Wednesday, May 17, 2017 • 1:15 p.m. • Room 445 State Capitol

1. Committee Business

· Call to order

· Approval of the minutes of the November 16, 2016, meeting

2. Vision and Goals for Tax Reform

· President Niederhauser

· Speaker Hughes

· Sen. Stephenson and Rep. Eliason

· Public comment

· Committee discussion/action

3. Review of Income Tax Credits

· Background - Committee staff

· Income tax credits required to be reviewed during the 2017 Interim:

o 59-7-601 Interest income from state and federal securities

o 59-7-607 and 59-10-1010 Low-income housing

o 59-7-612 Qualifying research expenses

o 59-7-614.1 and 59-10-1105 Purchase of hand tool costing over $250 to be used in farming operations

o 59-7-614.5 and 59-10-1108 Production costs of state-approved motion picture production

o 59-10-1004 Contributions to a nonprofit rehabilitation facility serving persons with a disability

o 59-10-1015 Live organ donation expenses

o 59-10-1025 Investment in life science establishment developing or manufacturing medical products

o 59-10-1027 Tax liability of an individual who dies in military service in a combat zone

o 59-10-1031 Employment of recently deployed veteran

o 59-10-1032 Employment of person who is homeless

o 59-10-1035 Contribution to state Achieving a Better Life Experience Program account (Effective 2016)

o 59-10-1104 Adoption of child who has a special need

o 59-13-202 Gas tax on gas used for nonhighway agricultural uses

· Public comment

· Committee discussion/action

4. Long-Term Planning

· Utah State Tax Commission

· Public comment

· Committee discussion/action

5. Technical Cleanup of Local Option Sales and Use Tax Distribution Formula

· Background - Committee staff

· Public comment

· Committee discussion/action

6. Taxation of Military Disability Income

· Overview - Committee staff

· Public comment

· Committee discussion/action

7. Other Items/Adjourn

· Next meeting

· Open committee bill files