H.B. 91

1

INDIVIDUAL INCOME TAX CREDIT FOR A
2 RESIDENTIAL SECURITY CONTAINER
3 2000 GENERAL SESSION
4 STATE OF UTAH
5 Sponsor: Chad E. Bennion
6 Matt Throckmorton
7 David M. Jones
8 Greg J. Curtis
Thomas V. Hatch
Bradley T. Johnson
Bill Wright
Brad King
Kory M. Holdaway

9 AN ACT RELATING TO THE INDIVIDUAL INCOME TAX ACT; CREATING AN
10 INDIVIDUAL INCOME TAX CREDIT FOR THE PURCHASE OF A RESIDENTIAL
11 SECURITY CONTAINER; AND PROVIDING FOR RETROSPECTIVE OPERATION.
12 This act affects sections of Utah Code Annotated 1953 as follows:
13 ENACTS:
14 59-10-133, Utah Code Annotated 1953
15 Be it enacted by the Legislature of the state of Utah:
16 Section 1. Section 59-10-133 is enacted to read:
17 59-10-133. Refundable credit for purchase of a residential security container.
18 (1) As used in this section:
19 (a) (i) "Purchase price" means the amount a taxpayer pays for a residential security
20 container.
21 (ii) "Purchase price" does not include an amount of tax imposed on a purchase of a
22 residential security container.
23 (b) "Residential security container" means a residential security container described in
24 Underwriters Laboratories, Inc. Standard for Safety UL 1037, Antitheft Alarms and Devices,
25 Fourth Edition, as revised May 26, 1995.
26 (2) For taxable years beginning on or after January 1, 2000, but beginning on or before
27 December 31, 2010, except as provided in Subsection (3), a taxpayer purchasing a residential
28 security container during the taxable year may claim on the taxpayer's individual income tax return

29 a refundable credit equal to the lesser of:
30 (a) the amount of the purchase price; or
31 (b) $150.
32 (3) Notwithstanding Subsection (2), a taxpayer:
33 (a) may only claim the credit for the taxable year during which the taxpayer purchased the
34 residential security container;
35 (b) may not carry forward or carry back a credit authorized by this section; and
36 (c) may not claim a credit for more than one residential security container on each
37 individual income tax return.
38 Section 2. Retrospective operation.
39 This act has retrospective operation for taxable years beginning on or after January 1, 2000.




Legislative Review Note
as of 1-18-00 4:51 PM

A limited legal review of this legislation raises no obvious constitutional or statutory concerns.

Office of Legislative Research and General Counsel