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Utah House approves higher-education tax credit and savings plan after debate on private colleges and fiscal impact
Summary
After extended debate and failed amendments, the House passed First Substitute House Bill 35 to allow redirecting tax refunds into Utah education savings accounts and to create a tuition tax credit; the measure passed 62–3 and will be referred to the Senate.
The Utah House on the floor Tuesday voted to pass First Substitute House Bill 35, a two-part measure intended to encourage college savings and keep graduates working in Utah. The bill passed 62–3 and now moves to the Senate for further consideration.
Representative Jason Dougal, the bill sponsor, said the measure has “two key components”: simplifying saving for college by allowing taxpayers to redirect refunds to a Utah Education Savings Plan and providing a tuition tax credit for students who work in Utah. “This bill has 2 key components in regards to higher education,” Dougal said, adding the tax credit is intended to “help drive our economy by encouraging those students to put their talents to use in Utah rather than leaving the state.”
The bill drew sustained…
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