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Senate circulates proposed constitutional amendment on intangible property after extended debate
Summary
Senators debated Substitute SJR 17 at length on Feb. 26, 1998, over concerns about the definition of intangible property, removal of a 5‑mill cap and revenue dedication to public education; after prolonged floor exchanges the measure was circled for further study and amendment.
A proposed constitutional amendment that would change how intangible property is treated for property‑tax purposes drew extended floor debate in the Utah State Senate on Feb. 26, 1998, and was ultimately circled for further consideration.
Senator Hilliard, who led floor discussion on Substitute SJR 17, told colleagues the measure is intended to give the legislature flexibility if the Utah Supreme Court broadens the definition of ‘intangible property.’ He said the bill removes a 5‑mill cap and would take intangible‑property revenue out of the…
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