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MINUTES OF THE
SENATE REVENUE AND TAXATION STANDING COMMITTEE MEETING
FRIDAY, JANUARY 29, 2010
, 2:00 P.M.
ROOM 250, STATE CAPITOL




Members Present:    Sen. J. Stuart Adams, Chair
    Sen. Ross Romero
    Sen. Howard A. Stephenson
    Sen. Dennis Stowell
    
Members Excused:    Sen. Wayne L. Niederhauser
    
Members Absent:    Sen. John Valentine
    Sen. Brent Goodfellow     Sen. Curtis S. Bramble

Staff Present:    Phillip V. Dean, Office of Legislative Research & General Counsel
    Karen Allred, Committee Secretary
    
Public Speakers Present:        Lee Peacock, Utah Petroleum Association
    Bruce Johnson, Commissioner, Utah Tax Commission

A list of visitors and a copy of handouts are filed with the Committee minutes.

Committee Chair Adams called the meeting to order at 2:28 p.m.

Chair Adams announced that S.B. 50 Sales and Use Tax Modifications would not be heard today.

1.     S.B. 111 Repeal of Severance Tax Holding Account (L. Hillyard)

    
Sen. Hillyard explained the bill.

    Lee Peacock, Utah Petroleum Association, spoke in support of the bill.    

     MOTION: Sen. Stowell moved to pass S.B. 111 out of committee with a favorable          recommendation.

    The motion passed unanimously.

2.    H.B. 26 Brine Shrimp Royalty Act Amendments (T. Kiser)

    
Chair Adams explained the bill and answered questions from the committee.



     MOTION: Sen. Romero moved to pass H.B. 26 out of committee with a favorable          recommendation.

    The motion passed unanimously.

3.    H.B. 49 Amendments Related to a Tax, Fee, or Charge Administered by the State Tax     Commission (T. Kiser)

    Rep. Kiser and Bruce Johnson, Commissioner, Utah State Tax Commission, presented the     bill.

     MOTION: Sen. Romero moved to pass H.B. 49 out of committee with a favorable          recommendation.

    The motion passed unanimously.
    
    MOTION: Sen. Romero moved to adjourn.

    The motion passed unanimously.

    The meeting adjourned at 2:40 p.m.



        

         Sen. J. Stuart Adams, Committee Chair