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Tuesday, September 19, 2006

SB 4001: Income Tax Amendments

The Utah Senate just passed SB 4001, 22 to 7, with one amendment.

Senator Mike Dmitrich proposed amending the bill to index the brackets for inflation, which passed on a unanimous voice vote.

[Update 6:45 p.m.] The House of Representatives passed the Tax Cut / Tax Reform bill, but amended it to simplify bracket numbers and provide a top rate of 6.98 percent. It will come back to the Senate for concurrence. Our analysts are working on the fiscal note for that amendment. We’ll reconvene when it is ready.

[Update 8:45 p.m.] The price tag for the Dunnigan amendment turned out to be about $2 million higher than what we passed. The Senate agreed to it, and adjourned.

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