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S.B. 41 Enrolled
AN ACT RELATING TO REVENUE AND TAXATION; AUTHORIZING THE UTAH STEAM
COAL TAX CREDIT FOR AN ADDITIONAL FIVE YEARS; PROVIDING THAT THE
CREDIT MAY BE CARRIED FORWARD UNDER CERTAIN CIRCUMSTANCES;
MAKING TECHNICAL CHANGES; PROVIDING FOR RETROSPECTIVE
OPERATION; PROVIDING A REPEAL DATE; AND PROVIDING A
This act affects sections of Utah Code Annotated 1953 as follows:
59-7-604, as last amended by Chapter 42, Laws of Utah 1995
63-55b-5901, Utah Code Annotated 1953
Be it enacted by the Legislature of the state of Utah:
Section 1. Section 59-7-604 is amended to read:
59-7-604. Utah steam coal tax credit.
(1) For taxable years beginning on or after January 1, 1993, there is allowed, as a
nonrefundable credit against any taxes imposed by this chapter or Chapter 8, an amount equal to
$1 per ton for each ton of Utah steam coal sold [
exceeds the number of tons of Utah steam coal sold [
(a) on or after January 1, 1992, but:
(b) before December 31, 1992.
(2) For purposes of this section, "Utah steam coal sold" means coal:
(a) mined in Utah, as certified by the producer of [
(b) that is sold:
(i) by the taxpayer;
(ii) from a permitted mine; and
(iii) to a purchaser outside of the United States.
(3) If the amount of a credit under this section for which a taxpayer is eligible for the taxable
year exceeds the taxpayer's tax liability for the taxable year, the taxpayer may carry forward for 15
taxable years the portion of the tax credit that exceeds the taxpayer's tax liability for the taxable year.
beginning on or after January 1, [
Section 2. Section 63-55b-5901 is enacted to read:
63-55b-5901. Repeal Date -- Title 59.
Section 59-7-604 is repealed January 1, 2002.
Section 3. Retrospective operation.
This act has retrospective operation for taxable years beginning on or after January 1, 1997.
Section 4. Coordination clause.
If this bill and H.B. 180, Sunset Reauthorizations, both pass, it is the intent of the Legislature
that the amendments in Section 59-7-604 in this bill superseded the repeal of Section 59-7-604 in
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