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House approves one‑point cut to capital‑gains treatment after fiscal debate; bill sent to Senate
Summary
The Utah House on Feb. 25 approved a measure changing how net capital gains are taxed in the state, adopting an amendment that delays implementation by one year and reduces the effective rate; the bill passed 44–29 amid dispute over the fiscal impact, which analysts estimated could reduce school‑fund receipts by about $20–22 million annually.
The Utah House of Representatives passed House Bill 103 on Feb. 25 after hours of debate over the fiscal effects of cutting the state’s capital‑gains tax treatment. The bill, as amended, reduces taxable capital‑gains treatment and delays implementation by one year; the House approved the measure 44–29 and sent it to the Senate for further consideration.
The bill’s sponsor, Representative Farren, described the measure as restoring a form of preferential treatment to capital gains that the state effectively lost in the 1980s. He framed the change as an…
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