H.B. 27 Enrolled

TAX COMMISSION REPORT - FEDERAL TAX
LAW CHANGES
2004 GENERAL SESSION
STATE OF UTAH
Sponsor: Wayne A. Harper

LONG TITLE
General Description:
This bill modifies the Revenue and Taxation Code to require an annual report from the
Utah State Tax Commission to the Revenue and Taxation Interim Committee.
Highlighted Provisions:
This bill:
. requires the Utah State Tax Commission to annually report to the Revenue and
Taxation Interim Committee on changes to the Internal Revenue Code and the
potential impacts of those changes on state revenues.
Monies Appropriated in this Bill:
None
Other Special Clauses:
None
Utah Code Sections Affected:
ENACTS:
59-1-213, Utah Code Annotated 1953

Be it enacted by the Legislature of the state of Utah:
Section 1. Section 59-1-213 is enacted to read:
59-1-213. Annual report on Internal Revenue Code changes.
The commission shall annually report to the Revenue and Taxation Interim Committee
on or before the October interim meeting concerning the impacts of the reliance of this title on
the Internal Revenue Code, including:

(1) any modification to the Internal Revenue Code that is likely to have a fiscal impact on
state revenues:
(a) that became effective:
(i) if the commission is preparing its initial report in accordance with this section, during
the previous calendar year; or
(ii) if the commission has prepared a previous report in accordance with this section, after
the most recent report prepared in accordance with this section; or
(b) that have been enacted and will become effective prior to the end of the calendar year
that begins January 1 following the current report prepared in accordance with this section;
(2) the fiscal impacts a modification described in Subsection (1) may have on state
revenues; and
(3) statutory or administrative options to:
(a) implement the effects on this title of a modification described in Subsection (1); or
(b) change this title to prevent this title from implementing a modification described in
Subsection (1).

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