Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
House approves SB 174 to change tax valuation for refinery pollution-control equipment
Summary
The Utah House passed SB 174 to allow county assessors to value pollution-control equipment using an accelerated obsolescence schedule modeled on IRS rules, creating a higher first-year valuation that declines to a 6% floor over five years; supporters said it addresses unfair tax burdens on refineries.
The Utah House on March 2 passed Senate Bill 174, a bill that changes how counties value pollution-control equipment at refineries on the Wasatch Front.
Sponsor Representative Val Peterson said the bill was modeled on Internal Revenue Service guidance and is meant to reflect the rapid economic obsolescence of pollution-control equipment. "This bill models the tax evaluation of this equipment after the IRS rule," Peterson said, explaining the…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
