Show legislature of the state of utah special session 1930 state capitol tte the special session of the be eighteenth legislature Leg slature of the I 1 of utah has corkren convened ed to fo coi consider sida or submitting constitutional I 1 amend merits to the utah voters that if I 1 adopted will wll enable future utah legislatures to accomplish the tax revision recommendations which are ns as follows 1 all tar tangible gible property shall lie ile taxed at uni foria rates throughout the jurisdiction of the authority nut horl ity levying the tax 2 all intangible able property shall be classified for or purposes of taxation preferably the intangible property shall be exempt from froin taxation as property with the express provision that the income shall be taxed 3 all business conducted for profit excel insurance companies shall bo be taxed a at f a nio detate uniform rate upon the net income of the business done within ho bo state it 6 insurance companies shall be taxed on net premiums b the prel present sent license tax on corporations po rations shall lo he 10 repeated repealed when the corporation income tax becomes effective all AH other special in taws aes for state purposes purpose shall be continued 4 all residents ot of this state having habing taxable witty ability shall pay a direct personal income tax at moderate fradua led rates 5 the which Is derived from the business tax and the personal income tax shall be devoted to the tile state evaie district school fund and tile the levy foi state district school fund purposes shall be reduced accordingly 0 6 the present constitutional state board of equalization shall ebal be abolished and nuda a state tax commission created a the state tax commission shall assess nil all mines and public util aties 1 b the state tax commission shall ball have power powei to equalize the valuations of any assessments within any coh county lity of the state tind and shall also alio have the pho power to equalize the valuations of classes of prot property erty between counties c on appeal oc ten or more per sons the commission shall review and correct any tax levies for local purposes with a view to checking unnecessary expenditures on appeal of son jen or more persons the commission shall review any local bond issue ands and shall liall bring all of at the file laeta lacis ln involved v 0 ly ed to tb the attention of the taxpayers together to 1 ether with the recommend rec recommendations ommen lations of the co commission in I 1 d the administration of all special taxes for state purposes shall bo JO centralized la in the office of the state tax commission e the state tax conama slon shall hive have authority to prescribe a system of uniform accounts for all local t tax ax lug ILI units and slinia ell ill have power to enforce the use of such lini uniform forni accod accounting n system it shall also have power ton to force suitable regulations regulation for the preparation of all local budgets and shall have authority to conduct regu lar independent audits of lilt all local public e accounts anti and to tale the necessary steps to safeguard safe suard public funds through the prosecution of till all vlola viola lions ct cl proper cioper accounting procedure rocedia e 7 T the legislature shall authorize n comprehensive study of expenditures governmental and business methods in conri connection action with the operation of the proposed plan of tax revision in order to determine wl iettie more economical method of handling the public business mily be developed and for the purpose of securing ft a proper balance between state and local betl revenues miles under the proposed plan of tax revis revision loli all amendments I 1 E TO constitution having made the foregoing recommendations ions the commission stated that they cannot bo be made effective at nil fill points under the present const constitution itil and thelt the first constructive step toward tax equalization in th ohp state stale of utah fiust bo tile the amendment of certain constitutional provisions rl le lating to fixation the iho two fundamentals contained ln in the proposed constitutional amend menta lent deal with 1 11 the classification of OC intangible property for taxation pur purposes poes find 2 centralized la in addition to these two 0 main points a provision Is made t that ti 1 t alt all revenue derived derl vei from any ally income taxes which may be eli emited emoted acted shall be paid In into the state district strict li school there are some other minor points contained in ali ethcie se proposals which ap conred desirable to nil commission but which do not directly affect the main issue involved experience in various states over ft A long period of years has hag ted tc l tile the impossibility of taxing intangible property in the samo same manner and ot at the same rates ns tangible property la Is taxed bonso conso consequently the of tangible property from intang ible property Is ia a fundamental necessity regard leftS of the enactment of the contemplated tax revision plan indeed not a single tep step toward intelligent tax reform ann cnn nu ile he talea taken until the rule of uniformity la Is abolished the necessity for sid adequate equate central supervision of oc a tax system hiis bas been shown again and again throughout the united states and those states which lure hava the most istl successful 0 ful systems leibly have it a centralized authority with sat but r resources cuir ces all and I 1 power to supervise the nelre entire ta twe system Co governor vernor der bern in ills ids message mes sage to th the t special session states although bics in utah are ar e not higher alln than ti li in no the burderi barden of ct fax atan aej n I 1 at unequally allf dis t rib ityl |