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Utah Senate pauses on insurance-premium earmark; moves SB30 to third reading amid negotiations
Summary
Senators debated Senate Bill 30, which would change how an insurance-premium tax earmark for fire services is handled after insurers altered reporting. Lawmakers suspended fiscal-note rules, read the bill for a third time and signaled further negotiation on whether to keep the statutory earmark or move funding to the budget process.
The Utah Senate on Day 2 pressed ahead with debate over Senate Bill 30, an insurance-premium tax amendment that lawmakers say is intended to address shifts in how insurers report premiums that have disrupted a statutory earmark for fire-service funding.
Senator Bramble, sponsor of the committee bill, said insurers’ software changes nationwide have altered how the Tax Commission must allocate reported premiums and that the change has materially affected the…
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