HB0197 | Income Tax Rate Modifications

Description

General Description:

This bill amends the income tax rates.

Highlighted Provisions:

This bill:
12 ▸amends the corporate franchise and income tax rates (from 4.95% to 4.5%); and
13 ▸amends the individual income tax rate.
This bill provides retrospective operation.

Bill Details

Bill Number:

HB0197

Year:

2022

Status:

House/ filed

Last Action:

Mar 04, 2022

Fiscal Note

Fiscal Note Amount:

None

View Fiscal Note

Utah PTA Response

Utah PTA Position

Oppose

2022 Income Tax Position Statement: Unless specifically targeted to low socio economic classes and military families, Utah PTA opposes broad income tax reductions as these directly affect funding for education.

Utah PTA Resolution:

EDU 2021-1 | Education Funding (retired)

Impact on Children:

Utah PTA opposes any bill that would decrease the education fund and therefore funding for earmarked education. Utah has consistently ranked at the bottom of the per pupil spending as defined by the Census Bureau. Utah PTA believes that investing in Utah children will reap the best dividends for Utah and Utah economy. While Utah has done wonders with the comparatively low levels of funding dedicated to education, it has also come at a cost of overstretched teachers and large class sizes. Positively impacting these two will benefit Utah children.

Commission:

Education

Utah PTA Public Policy Program

National PTA and Utah PTA Resolutions:

That Utah PTA encourage the legislature to adequately fund critical educational needs, including but not limited to, class size reduction, teacher salaries, technology, textbooks and supplies

Utah PTA Legislative Policy:

1. Support a 5% WPU increase with maximum flexibility to be used for purposes such as recruiting, supporting, and retaining teachers or upgrading buildings to be physically safe and secure.