Description General Description: This bill modifies the income tax rates. Highlighted Provisions: This bill: ▸ decreases the corporate franchise and income tax rates and the individual income tax rates for the 2021 and 2022 tax years; and ▸ makes the tax rate decrease permanent if revenue in the General Fund and Education Fund exceeds a certain amount at the close of fiscal year 2021-22. Bill Details Bill Number: SB0206Year: 2021Status: Senate/ filedLast Action: Mar 05, 2021 Sponsor SenatorLincoln FillmoreRepublican - District 10 Fiscal Note Fiscal Note Amount: $0NoneView Fiscal Note Utah PTA Response Utah PTA Position Oppose Utah PTA Resolution: EDU 2010-2 | Education Funding (retired)Impact on Children: Enactment of this bill could decrease revenues to the Education Fund by $253,000,000 in FY 2022 and $274,000,000 in FY 2023. Commission: Education Utah PTA Public Policy Program National PTA and Utah PTA Resolutions: Resolved: That Utah PTA continue to urge the legislature to make public education revenue allocations and funding effort a high priority.
