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House approves first substitute for HB190, changing delinquent personal property tax treatment
Summary
Lawmakers substituted and passed first substitute House Bill 190 to align personal property tax interest with real property (setting a 7% floor and 10% ceiling) and to alter the minimum penalty structure to reduce burdens on small taxpayers; the measure passed the House and will be transmitted to the Senate.
The Utah House on Feb. 4 approved a first substitute to House Bill 190, a package of delinquent property‑tax amendments that sponsors said would make penalties and interest fairer for small personal‑property taxpayers.
Sponsor explanation and substance: The bill aligns personal‑property interest rates with real‑property practice by setting the rate at 6% plus the federal funds target rate with a statutory floor of 7% and a ceiling of 10%. The…
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