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SENATE REVENUE AND TAXATION STANDING COMMITTEE
JANUARY 20. 2006, 9:00 A.M.
Members Present: Sen. Curtis Bramble, Chair Sen. Gregory Bell Sen. Brent Goodfellow
Sen. Lyle Hillyard
Sen. Darin G. Peterson
Sen. Howard A. Stephenson
Members Excused: Sen. Mike Dmitrich
Sen. John Valentine
Staff Present: Bryant Howe, Assistant Director, OLRGC
Karen Allred, Committee Secretary
Public Speakers Present: Keith Prescott, Chairman, Utah Tax Review Commission
Bruce Johnson, Utah Tax Commission
A list of visitors and a copy of handouts are filed with the committee minutes.
Chair Bramble called the meeting to order at 9:07 a.m.
Approval of Minutes
MOTION: Sen. Goodfellow moved to approve the minutes of January 18, 2006.
The motion passed unanimously.
1. S.B. 28 Sales and Use Tax - Exemption for Isolated or Occasional Sales (L. Hillyard)
Sen. Hillyard explained the bill assisted by Keith Prescott, Chairman, Utah Tax Review Commission.
Bruce Johnson, Utah Tax Commission further clarified the bill and answered questions from the committee.
MOTION: Sen. Hillyard moved to transmit the bill with a favorable recommendation.
The motion passed unanimously.
2. S.B. 37 Income Tax - Taxation of Individuals, Estates, and Trusts (L. Hillyard)
Sen. Hillyard explained the bill assisted by Keith Prescott.
Bruce Johnson spoke in support of the bill.
MOTION: Sen. Hillyard moved to transmit the bill with a favorable recommendation.
The motion passed unanimously.
3. S.B. 38 Individual Income Taxation of Certain Trust Distributions (L. Hillyard)
Sen. Hillyard explained the bill assisted by Keith Prescott.
MOTION: Sen. Hillyard moved to transmit the bill with a favorable recommendation.
The motion passed unanimously.
MOTION: Sen. Peterson moved to adjourn.
The motion passed unanimously at 9:40 a.m.