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House passes tax-reduction package with merged childcare and business credits
Summary
The House adopted a sequence of substitutes to House Bill 106 that reduced the income tax rate and rolled several tax provisions into the package, including a childcare-related credit and a business childcare facility tax credit; third-substitute HB 106 passed the House and will be sent to the Senate.
The Utah House on Feb. 27 approved third-substitute House Bill 106, a package of income tax revisions that the sponsor described as a modest rate reduction and as incorporating additional tax credits, including provisions intended to incentivize private investment in childcare facilities.
Representative Kristofferson said the bill decreased the individual and corporate rate from 4.55% to…
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