LEGISLATIVE GENERAL COUNSEL S.B. 103
6 Approved for Filing: A.V. Arthur 6
6 01-15-24 5:18 PM 6
1 MILITARY TAX CREDIT
2 2024 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: Heidi Balderree
5 House Sponsor: ____________
6
7 LONG TITLE
8 General Description:
9 This bill enacts an income tax credit for members of the military reserves.
10 Highlighted Provisions:
11 This bill:
12 < enacts a nonrefundable tax credit for members of the Utah National Guard and the
13 reserve component of the armed forces.
14 Money Appropriated in this Bill:
15 None
16 Other Special Clauses:
17 This bill provides retrospective operation.
18 Utah Code Sections Affected:
19 ENACTS:
20 59-10-1048, Utah Code Annotated 1953
21
22 Be it enacted by the Legislature of the state of Utah:
23 Section 1. Section 59-10-1048 is enacted to read:
24 59-10-1048. Nonrefundable tax credit for military reservist.
25 (1) As used in this section, "reservist" means a claimant who is:
S.B. 103
26 (a) a member of the Utah National Guard created in Section 39A-3-101 and in
27 accordance with Utah Constitution Article XV; or
*SB0103*
 S.B. 103 01-15-24 5:18 PM
28 (b) a member of the reserve component of the armed forces as described in 10 U.S.C.
29 Sec. 10101.
30 (2) A reservist may claim a nonrefundable tax credit equal to $400 against the
31 reservist's state tax liability.
32 (3) A reservist may not carry forward or carry back the amount of the tax credit that
33 exceeds the reservist's tax liability.
34 Section 2. Effective date.
35 This bill takes effect on May 1, 2024.
36 Section 3. Retrospective operation.
37 This bill has retrospective operation for a taxable year beginning on or after January 1,
38 2024.
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