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Senate rejects amendment to Nucor tax break; House Bill 74 passes after debate
Summary
Senators debated extending a sales-and-use tax exemption for Nucor Steel, with sponsors stressing jobs and local investment and critics arguing the company is profitable and does not need the break. A floor amendment to sunset the exemption and redirect funds to disability waiting lists failed; HB74 passed 20-6 with three absent.
House Bill 74, a measure to extend a sales-and-use tax exemption for steel-industry equipment through 2014 and to continue other tax provisions, drew an extended floor debate on Feb. 27, 2004.
Senator Knudson framed the bill around Nucor Steel's economic footprint in Utah, citing payroll and local employment figures: "In Plymouth, Utah, where the Nucor facility is located, there are 378 employees... The average…
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