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House passes bill aligning severance tax statute with constitutional amendment to create a permanent trust
Utah House of Representatives · February 6, 2014
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Summary
House Bill 226 passed 68–0 to conform statute with a recent constitutional amendment requiring phased deposits of severance tax revenue into a trust for future generations; sponsor described phase‑in percentages and estimated near‑term fiscal impacts.
Representative Nielsen, speaking at length, framed HB226 as a statutory step to implement a constitutional amendment that requires phased deposits of severance tax revenues into the Permanent State Trust Fund. He said that beginning July 1, 2016, the constitution will require a percentage of severance receipts to be…
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