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H.B. 153

             1     

STUDY ON CONTRIBUTION AND CREDIT FOR

             2     
EDUCATION FUNDING

             3     
2014 GENERAL SESSION

             4     
STATE OF UTAH

             5     
Chief Sponsor: Kay J. Christofferson

             6     
Senate Sponsor: Curtis S. Bramble

             7     
             8      LONG TITLE
             9      General Description:
             10          This bill requires the Revenue and Taxation Interim Committee to conduct a study.
             11      Highlighted Provisions:
             12          This bill:
             13          .    requires the Revenue and Taxation Interim Committee to conduct a study on certain
             14      contributions and credits related to income taxes; and
             15          .    provides procedures and requirements for the study.
             16      Money Appropriated in this Bill:
             17          None
             18      Other Special Clauses:
             19          This bill is repealed on December 31, 2014.
             20      Uncodified Material Affected:
             21      ENACTS UNCODIFIED MATERIAL
             22     
             23      Be it enacted by the Legislature of the state of Utah:
             24          Section 1. Revenue and Taxation Interim Committee study.
             25          (1) During the 2014 interim, the Revenue and Taxation Interim Committee shall study
             26      whether to draft legislation to:
             27          (a) allow an employee to direct an employer to deduct a specified amount from the


             28      employee's income tax withholding to be contributed to the Education Fund or another fund
             29      established to fund higher education and public education; and
             30          (b) provide that the employee may receive a credit against income taxes or withholding
             31      in the amount of the contribution described in Subsection (1)(a).
             32          (2) As part of the study, the Revenue and Taxation Interim Committee:
             33          (a) shall coordinate with one or more state agencies that may be involved in the
             34      administration of the contribution or credit described in Subsection (1);
             35          (b) shall evaluate the impacts and benefits of authorizing a contribution or credit
             36      described in Subsection (1);
             37          (c) shall, in consultation with the Internal Revenue Service, evaluate the feasibility of
             38      deductibility of the contribution described in Subsection (1) to be effective under the Internal
             39      Revenue Code; and
             40          (d) may evaluate any other issue as determined by the chairs of the Revenue and
             41      Taxation Interim Committee.
             42          (3) The Revenue and Taxation Interim Committee shall make findings and
             43      recommendations on the study on or before the November 2014 interim meeting.
             44          Section 2. Repeal date.
             45          This bill is repealed on December 31, 2014.




Legislative Review Note
    as of 2-13-14 1:04 PM


Office of Legislative Research and General Counsel


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