REVENUE AND TAXATION INTERIM COMMITTEE
UTAH
LEGISLATURE
November 27, 2017 • 9:00 a.m. • Room 445
State Capitol
1.
Committee Business
·
Call
to order
·
Approval
of the minutes of the November 15, 2017 meeting
2.
Deadlines for Property Tax Amendments
The committee will discuss draft legislation that would
amend deadlines related to property taxes, including deadlines for assessing
property, determining tax rates, and filing appeals.
·
Draft
legislation “Deadlines for Property Tax Amendments” - Sen. David G. Buxton
·
Public
comment
·
Committee
discussion/action
3.
Homeless Funding
·
Public
comment
·
Committee
discussion/action
4.
Certified Tax Rate Amendments
·
Draft
legislation “Certified Tax Rate Amendments” - Sen. Bramble
·
Public
comment
·
Committee
discussion/action
5.
Tax Reform
The committee will discuss draft legislation that would
amend the state’s tax system by addressing issues
related to items 1a through 10 listed below.
·
Draft
legislation “Tax Reform” - Committee staff
o
1a
- Minimum Basic Tax Rate freeze at .001600
o
Public
comment
o
1b
- Uniform .0025 cap for School Board Local Levy
o
Public
comment
o
2
- Truth-in-Taxation newspaper ad changes
o
Public
comment
o
3
- Corporate franchise and income tax obligation (nexus)
o
Public
comment
o
4
- Elimination of the net operating loss (NOL) carry back
o
Public
comment
o
5
- Corporate apportionment and single sales factor
o
Public
comment
o
6
- Accountability for income tax credits
o
Public
comment
o
7
- Expansion of the manufacturing sales and use tax exemption
o
Public
comment
o
8
- Sale taxation of streamed media and amusement devices
o
Public
comment
o
9a
- Registration fees and road usage charge program for
electric vehicles
o
Public
comment
o
9b
- Electric vehicle tax credits
o
Public
comment
o
10
- Property taxation of business personal property
o
Public
comment
·
Committee
discussion/action
6.
Other Items/Adjourn
Note:
Around noon, the committee will recess for about 20 minutes so that lunch can
be served to committee members. This will also give attendees an opportunity to
get lunch if they so choose.