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House approves proposal to phase-in severance-tax trust, sends constitutional question to Senate
Summary
The Utah House passed second substitute HJR 6, a proposed constitutional amendment to set aside a tiered portion of severance-tax revenue into a trust over a five‑year phase‑in; the measure passed 54–19 and will go to the Senate for its consideration and, if approved there, to voters.
The Utah House on Feb. 22 passed second substitute HJR 6, a joint resolution that would take a formulaic portion of state severance-tax receipts and put them into a dedicated trust fund over a five‑year phase‑in. Representative Nielsen, the sponsor, said the measure would protect revenues for "future generations" and proposed a tiered set‑aside formula: 25% of the first $50 million, 50% of the next $50 million and 75% of receipts above $100 million once fully phased in.
Nielsen told…
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