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MINUTES OF THE

HOUSE REVENUE AND TAXATION

STANDING COMMITTEE

Room 445 - State Capitol

February 25, 2013

MEMBERS PRESENT:     Rep. Ryan Wilcox, Chair
                Rep. Jim Nielson, Vice Chair
                Rep. Jake Anderegg
                Rep. Joel Briscoe                            
                 Rep. Tim Cosgrove                 
                Rep. Steve Eliason                              
                Rep. Francis Gibson
                Rep. Brian King
                Rep. John Knotwell
                Rep. Kay McIff
                Rep. Doug Sagers
                Rep. Jon Stanard
                Rep. Earl Tanner     

MEMBERS EXCUSED:     Rep. Mel Brown     

MEMBERS ABSENT:    Rep. Gage Froerer
                Rep. Eric Hutchings

STAFF PRESENT:        Mr. Phil Dean, Policy Analyst
                Ms. An Bradshaw, Secretary
                    
Note:    A list of visitors and a copy of handouts are filed with the committee minutes.

Chair Wilcox called the meeting to order at 8:11 a.m.

MOTION:    Rep. Nielson moved to approve the minutes of Feb. 20, 2013. The motion passed unanimously with Rep. Cosgrove, Rep. King, and Rep. Knotwell absent for the vote.

H.B. 96    Cleaner Burning Fuels Tax Credits Amendments (Rep. J. Draxler)

MOTION:    Rep. Briscoe moved to replace HB96 with 1st Sub. HB96. The motion passed unanimously with Rep. Cosgrove, Rep. King, and Rep. Knotwell absent for the vote.

1st Sub. H.B. 96    Cleaner Burning Fuels Tax Credits Amendments (Rep. J. Draxler)

Rep. Draxler introduced the bill to the committee with the assistance of Rep. Snow. A handout was provided.

MOTION:    Rep. Eliason moved to amend the bill as follows:

1.    Page 1, Line 1 :    

             1     
CLEANER BURNING FUELS TAX CREDITS AMENDMENTS
  AND
RELATED FUNDING  


2.    Page 1, Line 9 :    

             9          This bill amends corporate and individual income tax credits for cleaner burning fuels
  and provides for transfers from the General Fund into the Education Fund in the amount of tax credit claimed minus $500,000       .


3.    Page 1, Lines 11 through 16 :    

             11          This bill:
             12          .    defines terms;
             13          .    modifies eligibility requirements to claim tax credits for cleaner burning fuels;
             14          .    extends corporate and individual income tax credits for cleaner burning fuels until
             15      the end of taxable year 2018;
{   and   }

  . requires transfers from the General Fund into the Education Fund in the amount of tax credit claimed minus $500,000;

. grants rulemaking authority to the State Tax Commission; and  

             16          .    makes technical and conforming changes.

4.    Page 6, Line 170 :    

             170          [(6) The tax credit provided by this section may be taken only once per vehicle.]
  (6) In accordance with any rules prescribed by the commission under Subsection (7), the commission shall transfer at least annually from the General Fund into the Education Fund an amount equal to the difference between:

(a) the amount of tax credit claimed under this section; and
(b) $500,000.
(7) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules for making a transfer from the General Fund into th Education Fund as required by Subsection (6).  

5.    Page 11, Line 308 :    

             308          [(6) The tax credit provided by this section may be taken only once per vehicle.]
(6) In accordance with any rules prescribed by the commission under Subsection (7), the commission shall transfer at least annually from the General Fund into the Education Fund an amount equal to the difference between:
(a) the amount of tax credit claimed under this section; and
(b) $500,000.
(7) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commission may make rules for making a transfer from the General Fund into th Education Fund as required by Subsection (6).

The motion to amend passed unanimously.

MOTION:    Rep. Eliason moved to pass 1st Sub. HB96 out favorably as amended. The motion passed unanimously.

H.B. 145    Youth Development Organization Restricted Account and Income Tax Contribution (Rep. S. Eliason)

Rep. Elaison introduced the bill to the committee.

MOTION:    Rep. Nielson moved to pass the bill out favorably. The motion passed with Rep. Anderegg, Rep. King, Rep. Knotwell, and Rep. Wilcox voting in opposition.

MOTION:    Rep. Briscoe moved to adjourn the meeting. The motion passed unanimously.

Chair Wilcox adjourned the meeting at 9:02 a.m.








                            __________________________
                             Rep. Ryan Wilcox, Chair