From Deseret News archives:
Senate OKs school tax-equalization measure
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But the bill is opposed by the Utah Mining Association, Utah Petroleum Association and the Utah Taxpayers Association. The groups are leery of a precedent of earmarking what now goes into the general fund for health and human services and other needs to a certain group of people. Several said they'd rather see the state put all natural resource tax revenues in a perpetual trust fund whose interest could benefit generations to come.
"I shudder to think my great-great-grandchildren, when all these mineral and oil fields and coal fields play out and we don't have any more resources like that, and they look in their history books and say, 'Boy, Grandpa was part of those people who squandered those resources ... and spent them on themselves ... and we have nothing to show for those mineral resources in this state."'
The Senate Education Committee adjourned without voting on the bill.
Waddoups says he and supporters will see if they can convince the committee to bring the bill back and pass it.
E-mail: jtcook@desnews.com
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