Chapter Affairs Co-chair, Jeffrey Rasmussen, has provided an updated legislative tracking chart, which includes updates and additional bills that were not previously included.
Please note that NAIOP plans to engage with the legislature in opposition to HB042. This bill removes a personal property tax levy for all items that were originally charged a sales tax or use tax on the original purchase of that item. The bill sponsor believes this is double taxation, thus he wants it eliminated. The tax currently charged to personal property will have to be made up in a larger tax levy on real property. From a landlord’s perspective this might dramatically change real property tax rates.
As many of have likely read, HB 441 is also a hot-button issue right now, with the potential to negatively affect many of our members by subjecting them to sales tax on construction, legal, financial and many other services, and well as imposing a real estate transfer tax. We are evaluating this bill and how we can get involved to support the interests of the NAIOP community.
If there are any other bills that you believe are particularly important to the NAIOP community, please let us know. If you would like to engage directly with your representatives about these or other bills, you can find your legislator HERE.
View Updated Utah Legislative Tracking Chart