SALT LAKE CITY -- A local lawmaker's bid to dedicate revenues generated by taxes on natural resources to a trust fund, rather than the general fund, was defeated in the House by a 39-36 count Monday.
Sponsored by Rep. Jim Nielson, R-Bountiful, HB210 would have mandated the immediate redirection of some of the tax generated by gas, oil and mining tax revenues into the existing state trust fund.
The trust fund is to prepare for the future, when natural resources may no longer generate revenue for a given community.