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Committee agrees to prepare amendment to let trusts claim resident credit, will align language with House Bill 1176
Summary
The Finance and Taxation Committee agreed verbally to prepare an amendment to align ownership language in a bill that would allow trusts to claim the resident credit with the language in House Bill 1176 and to return later with a written amendment for a vote.
Chairman Weber said the committee must move quickly on Senate Bill 2201 so trusts can claim the resident credit, telling members, “we need to get this bill out, by Wednesday at the latest. The leadership has said that we need to get this done.”
Members discussed matching ownership definitions in SB 2201 to those in a House property tax bill. Senator Wallin said the language…
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