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Revenue and Taxation Interim Committee - September 16, 2026

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Recording 1 Chair Eliason called the meeting to order at 8:35 a.m. Committee Business Rep. Ward moved to approve the minutes of the August 19, 2026, meeting. Chair Eliason announced that the chairs opened a committee bill file to address tax-related issues that are beyond the scope of the other committee tax bill. General Fund Earmarks 2 - General Fund Earmarks (Office of Legislative Research and General Counsel) Megan Bolin presented an overview on revenue earmarked for the General Fund, which is money set aside for a specified purpose. Effectiveness and Utilization of Tax Credits 3 - 2026 Tax Credit Review (OLRGC) Megan Bolin presented the review of the taxpayer tax credit, which is the most widely claimed credit. The committee asked questions. Megan Bolin and Chris Stitt responded. Municipal Incorporation Feasibility Studies Chris Stitt provided an introduction on issues with municipal incorporations, specifically when a municipality can incorporate and the feasibility studies required for municipalities to begin the incorporation process. 4 - Feasibility Study and Incorporations Overview (Office of the Lieutenant Governor) Arden Cook, Local Entities Specialist, Office of the Lieutenant Governor, presented on the general procedures and timelines regarding municipal incorporations and feasibility studies. The committee asked questions and Arden Cook responded. Sen. McCay provided a comment and the committee discussed more specifics regarding the Ogden Valley City incorporation. 4 - Sales Tax Methodology Related to Municipal Incorporation Studies (LRB Public Finance Advisors) Jason Burningham, Principal and Owner, Fred Philpot, Vice President, and Logan Loftis, Analyst, LRB Public Finance Advisors, presented on the methodology for incorporation studies performed for municipalities and issues gathering data to complete these studies. The committee asked questions. Jason Burningham and Fred Philpot responded. The committee continued to ask questions and John Valentine, Commissioner, State Tax Commission, responded. Rebecca Rockwell, Commissioner, State Tax Commission, provided additional information and the committee continued to ask questions and discuss municipal incorporation issues. 4 - Incorporation Options (Sen. McCay) The committee discussed potential solutions to feasibility study issues with Fred Philpot providing additional options. Chair Eliason reminded the committee that another committee bill file would be required to address municipal incorporation issues. Rep. Kyle moved to open a committee bill file to address issues regarding municipal incorporation and the committee discussed. Performance Audit of Oil, Gas, and Related Taxes and Incentives 6 - A Performance Audit of Oil, Gas, and Related Energy Taxes and Incentives (Office of the Legislative Auditor General) Darin Underwood, Deputy Auditor General, Office of the Legislative Auditor General, and Mark Ahrens, Legislative Performance Auditor, Office of the Legislative Auditor General, presented an overview of an audit on oil, gas, and related taxes which focuses on Utah's gasoline supply and incentives to increase production. Chair Eliason asked a question. Darin Underwood responded and continued with the presentation. The committee asked questions. Darin Underwood and Mark Ahrens responded. Tyson Bomsta, Energy Economist, Office of Energy Development, provided information and the committee continued to discuss and ask questions. Rikki Hrenko-Browning, President, Utah Petroleum Association, provided additional information during the committee discussion and responded to questions. Tyson Bomsta answered questions from the committee and Chair Eliason provided a comment. Other Items/Adjourn Rep. Shepherd moved to adjourn. Chair Eliason adjourned the meeting at 10:58 a.m.

• Committee Business
• General Fund Earmarks
• Effectiveness and Utilization of Tax Credits
• Municipal Incorporation Feasibility Studies
• Resort Community Report
• Performance Audit of Oil, Gas, and Related Taxes and Incentives
• Taxpayer Receipt
• Farm Hand Tools
• Other Items/Adjourn

• NOTICE NOTICE
• AGENDA AGENDA
• MINUTES MINUTES
• 6 - A Performance Audit of Oil, Gas, and Related Energy Taxes and Incentives (Office of the Legislative Auditor General) 6 - A Performance Audit of Oil, Gas, and Related Energy Taxes and Incentives (Office of the Legislative Auditor General)
• 3 - 2026 Tax Credit Review (OLRGC) 3 - 2026 Tax Credit Review (OLRGC)
• 4 - Feasibility Study and Incorporations Overview (Office of the Lieutenant Governor) 4 - Feasibility Study and Incorporations Overview (Office of the Lieutenant Governor)
• 4 - Sales Tax Methodology Related to Municipal Incorporation Studies (LRB Public Finance Advisors) 4 - Sales Tax Methodology Related to Municipal Incorporation Studies (LRB Public Finance Advisors)
• 2 - General Fund Earmarks (Office of Legislative Research and General Counsel) 2 - General Fund Earmarks (Office of Legislative Research and General Counsel)
• 4 - Incorporation Options (Sen. McCay) 4 - Incorporation Options (Sen. McCay)

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