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2023 Legislative Update: Week Six

Friends and Neighbors,

We have just one week left in the 2023 Legislative Session. We will be working hard up until the very last minute to pass good legislation for Utah. We have passed a lot of great legislation for Utah this year. I am thankful to all who have reached out with their comments and insights. Please read below for a few exciting updates from the past week.

As always, if you have any questions or comments, please reach out. You can reach me directly at corymaloy@le.utah.gov.

Thank you,
Representative Cory Maloy
House District 52

Updated Budget Estimates

This week, the Governor’s Office and Legislature released updated revenue numbers for the state fiscal year 2023-24. The new revenue growth reflects the ongoing momentum of the state’s economy, yet as we historically do, we are committed to prudent and smart planning for future downturns.
 
During the 2023 General Session, we are tasked with deliberating on the estimated $817 million in one-time and $410 million in ongoing money combined in the General and Income Tax Funds, after accounting for base budget adjustments and set-asides. You can read more about the budget estimates here.

Bills I Have Passed So Far

The following bills have passed the Utah House and Senate. They need to be signed by the Governor before they will become law. 

Sales Tax on Food

Utahns have made it clear that removing the sales tax on food is a top priority. This week, the House passed H.B. 101 Food Sales Tax Amendments, which Removes the state portion of sales tax on food contingent on removing the constitutional earmark for income tax revenue, as laid out in S.J.R. 10
 
Currently, the Utah Constitution mandates that all revenue from income tax be used only for certain items. While Utah’s economy is robust, eliminating the sales tax on food would not be possible without first addressing these budget constraints. If passed by the full Legislature, voters will have the opportunity to approve these changes on the 2024 ballot. Read more here.

North Point Elementary 

This past week students from North Point Elementary visited us at the Capitol. It was great talking with them about the Legislative process. They are very bright students, and they asked a lot of great questions! 

Largest Tax Cut in State History 

We know that the best way to ensure Utahns can continue to call Utah home is to allow them to keep more of their hard-earned money in their pockets. Over the past two years, the Utah legislature has reduced taxes by nearly $300 million. To continue Utah’s commitment to reducing taxes and cultivating a family and business-friendly environment, the Utah House passed H.B. 54 Tax Revisions, an additional $400 million in tax relief. You can learn more about the tax cut in this week’s episode of our House podcast. Listen here. 

Committee Assignments
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