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Thrift‑settlement tax waiver fails after senators debate fairness and fiscal impact
Summary
Senate rejected SB 83, which would have waived a state income‑tax haircut on collections from the 1988 thrift settlement to preserve an intended 50/50 split for depositors and the state; the motion failed 9–19 amid concerns about unequal treatment and a roughly $459,000 hit to the uniform school fund.
Senate Bill 83, which would have allowed Utah to waive a state corporate income tax claim on collections from the 1988 thrift settlements so proceeds could be shared 50/50 with depositors as originally intended, failed on the floor after sustained debate.
Sponsors argued the waiver would align state…
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