The 2024 General Legislative Session in Utah continued on February 23, 2024, with a series of significant discussions and votes on various bills. The meeting focused on legislative proposals aimed at addressing taxation, governance, and property tax relief.

The session began with a discussion on First Substitute Senate Bill 37, which grants the lieutenant governor the authority to extend the term of an existing board member by one year. This bill also allows the legislature to write summaries and titles for proposals presented to the public on ballots. Following the presentation, the bill was moved for a third reading and passed with 21 votes in favor and 2 against.

Next, the assembly turned its attention to Second Substitute Senate Bill 71, which aims to provide tax relief for cannabis businesses. Due to their federal classification, these businesses face high taxation and limited deductions. The bill proposes a 1.8% sales tax deduction to help level the playing field with other businesses. After a brief discussion, the bill was also moved for a third reading and passed with 22 votes in favor and 2 against.

Senator Bramble then introduced Senate Bill 243, which addresses the assessment of aircraft and their ground equipment. The bill seeks to reduce litigation by allowing ground equipment to be locally assessed while maintaining central assessment for aircraft. It also gives the tax commission discretion in valuing aircraft fleets, rather than adhering to a fixed percentage. The bill was moved for a third reading and passed unanimously with 23 votes in favor.

The meeting also included discussions on First Substitute Senate Bill 245, which was circled for further consideration, and First Substitute Senate Bill 250, concerning property tax income requirements. Senator Weiler proposed a second substitute for this bill to correct a previous oversight regarding renter credits. The second substitute significantly reduced the fiscal note from approximately $1 million to $9,000 and aimed to ensure that renter credits would increase with inflation, similar to homeowner credits. The motion to replace the first substitute with the second was passed without opposition.

Overall, the session highlighted the legislature's ongoing efforts to address taxation issues and provide relief to various sectors, including cannabis businesses and low-income renters. The next steps will involve further discussions and potential amendments to the circled bills as the session progresses.