Post by Logan on Feb 28, 2017 12:57:35 GMT -6
Big tax break for business may be limited to refineries, sponsor says
SALT LAKE CITY — The sponsor of a bill that would give manufacturers a $60 million tax break that won preliminary Senate approval Monday said he now intends to limit the exemption to just $1.8 million for refineries that produce cleaner Tier 3 fuels.
"We're making great strides, but we can do more to clean up our air," said Senate Majority Whip Stuart Adams, R-Layton. "One of the most productive ways we can clean up our air is to move to Tier 3 fuels."
Adams said amending SB197 to focus just on giving refineries a sales tax exemption for purchases of equipment expected to last less than three years will help prod Utah refineries to make those fuels available here.
There's a federal mandate to produce more of the lower sulfur fuels, but the Environmental Protection Agency is allowing companies to average reductions so a Salt Lake City refinery with a Gulf Coast counterpart would not necessarily have to comply.
Read more: www.deseretnews.com/article/865674423/Big-tax-break-for-business-may-be-limited-to-refineries-sponsor-says.html
SALT LAKE CITY — The sponsor of a bill that would give manufacturers a $60 million tax break that won preliminary Senate approval Monday said he now intends to limit the exemption to just $1.8 million for refineries that produce cleaner Tier 3 fuels.
"We're making great strides, but we can do more to clean up our air," said Senate Majority Whip Stuart Adams, R-Layton. "One of the most productive ways we can clean up our air is to move to Tier 3 fuels."
Adams said amending SB197 to focus just on giving refineries a sales tax exemption for purchases of equipment expected to last less than three years will help prod Utah refineries to make those fuels available here.
There's a federal mandate to produce more of the lower sulfur fuels, but the Environmental Protection Agency is allowing companies to average reductions so a Salt Lake City refinery with a Gulf Coast counterpart would not necessarily have to comply.
Read more: www.deseretnews.com/article/865674423/Big-tax-break-for-business-may-be-limited-to-refineries-sponsor-says.html