Draft legislation for a major overhaul of Utah’s tax code was released by lawmakers on Thursday, adding detail and specificity to the long-gestating work of a task force that has been studying the issue for much of the year.
Largely based on the recommendations of the task force’s chairmen, which were released last month, the bill would cut Utah’s income tax rate from 4.95% to 4.58% — slightly lower now than previous iterations — while significantly expanding the per-child tax credit, increasing the sales tax on groceries, and creating a new earned income tax credit and grocery tax credit.