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Senate substitutes education reform bill that adds income-tax adjustments and corporate-rate changes
Summary
Senators substituted a third version of SB154, combining education reform and tuition tax-credit provisions with a funding mechanism: modest two-year increases to individual income-tax brackets and incremental corporate-tax rate and minimum tax increases. The body circled the substitute for floor debate next week.
Senators on Feb. 20 substituted a third version of Senate Bill 154, expanding an education-reform package to include a funding mechanism that adjusts state income-tax brackets and corporate tax parameters.
Sponsor Senator Hatch told the Senate the third substitute adds an income-tax-rate adjustment to fund the education provisions; "It is an income tax increase, and adjustment in the rates," he said on the floor. He described a modest phased approach: the bottom…
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