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MINUTES OF THE

HOUSE REVENUE AND TAXATION

STANDING COMMITTEE

Room 129 - State Capitol Building


Friday, January 25, 2002


MEMBERS PRESENT:     Rep. Gordon E. Snow, Vice Chair
                Rep. Eli H. Anderson     
                Rep. Judy Ann Buffmire         
                Rep. Marda Dillree
                 Rep. Kory M. Holdaway
                Rep. Steven Mascaro
                Rep. Ty McCartney
                 Rep. Carol Spackman Moss
                Rep. Jack E. Seitz
                Rep. Michael R. Styler
                               
MEMBERS ABSENT:     Rep. Wayne A. Harper, Chair             
                Rep. Scott Daniels
                Rep. Kevin S. Garn
                Rep. John E. Swallow

STAFF:            Bryant Howe, Research Analyst
                Sharron Corelli, Secretary
________________________________________________________________________________
VISITORS:            List filed with committee minutes.

Vice Chair, Rep. Snow called the meeting to order.

MOTION:    Rep. Seitz moved to approve the minutes of January 23, 2002. The motion passed unanimously with Rep. Anderson and Rep. McCartney absent for the vote.

H.B. 252    General Obligation Bonds for Engineering Buildings (G. Adair)
        
        Rep. Adair introduced the bill and explained it to the committee.

        Nancy Lyon, University of Utah, spoke for the bill.

MOTION:    Rep. Dillree moved to pass the bill out favorably.
        The motion passed unanimously with Rep. Anderson and Rep. McCartney absent for the vote.
        
H.B. 103    Individual Income Tax Deduction for Net Capital Gain (J. Ferrin)

        Rep. J. Ferrin introduced the bill and explained it to the committee.


        Rep. Buffmire declared a conflict of interest.

        Mr. Mike Jerman, Utah Taxpayers Association, distributed a handout in support of the bill.

MOTION:    Rep. Holdaway moved to amend the bill as follows:
    
        Page 5, Line 127: Delete “50%” and insert “.5%”.
            
        The motion passed unanimously with Rep. McCartney and Rep. Seitz absent for the vote.

MOTION:    Rep. Dillree moved to pass the bill out favorably as amended.

SUBSTITUTE
MOTION:    Rep. Buffmire moved to proceed to the next item on the agenda. The motion passed with Rep. Snow, Rep.Dillree, Rep. Holdaway and Rep. Mascaro voting in opposition and Rep. Seitz absent for the vote.

S.B. 7    Cigarette Tax Stamp and Contraband Amendments (D. E. Allen)

        Sen. Allen introduced the bill and explained it to the committee with the assistance Mr. Joel Ferre, Attorney General's Office. A handout, Information Points On Cigarette Tax Stamp and Contraband Amendments, was distributed.

MOTION:    Rep. Dillree moved to pass the bill out favorably.
        The motion passed unanimously with Rep. Seitz absent for the vote.

MOTION:    Rep. Anderson moved to adjourn the meeting.
        The motion passed unanimously with Rep. Seitz absent for the vote.

The meeting adjourned at 9:20 a.m.

                



                            __________________________
                            Rep. Gordon E. Snow, Vice Chair