It may seem like it was just legislative season to some people in the Beehive State, but the next session is actually due to start on January 17.
Even with that start looming on the horizon, there are already some bills and initiatives being discussed by the legislature, including some people who have been newly elected this past November.
Here’s a look at what is already being proposed, with more details on the entire session likely due as the end of the year progress and next year begins.
Tax cuts on the horizon
Part of the motivation for already discussing the next session stems from the estimated $3.3 billion budget surplus that will roll over in 2023. To that end, a major committee is already planning to cut taxes even further than last year, as reported by KSL.
The state’s Revenue and Taxation Interim Committee approved a draft that would make the new state income tax rate 4.8%, down a 1/2 percentage point. This is on top of a $200 million cut that was approved last year.
The same committee also proposed a constitutional amendment to allow the legislature to increase property owners’ exemptions on taxes. It would increase the exemption by more than the current 45% fair market value, although there is no set scale on which the percentage would change as of yet.
Affordable housing steps into the spotlight
Also taking place recently is a penalty that will be assessed to city governments, as proposed by the state Commission on Housing Affordability. The Salt Lake Tribune reported that state money for road and street improvements will be withheld if cities do not make master plans for boosting construction of moderately priced housing.
They also wouldn’t allow private landowners to build affordable homes on properties by bypassing zoning reviews and city hearings, a common practice today.
All of this is to spark more affordable housing in the area, which is experiencing a similar housing crunch that many communities in the Western US are also experiencing. Whether or not something so startling will actually pass the legislature is still unknown.
We’ll also keep a watch on the legislature
As part of what the UASD does, we promote awareness with government and public officials such as those in the legislature. We also train board members and their staff, provide advocacy for key issues, and update laws and regulations, among other duties. Our website has more on what we can do for your district.