Creates the Higher Education Initiatives tax credit and the Health Care Redesign tax credit and dedicates the monies saved from spending reductions and revenue increases into the Spending Reductions Fund for payment of the higher education and healthcare tax credits
Provides for a swap of refundable tax credits by establishing a system to terminate certain existing exemptions, exclusions, deductions, and credits to fund refundable credits for donations to higher education and health care. (7/1/15)
Reduces the amount of the deduction for excess federal itemized personal deductions and dedicates the associated revenues to the Higher Education Emergency Fund (OR +$166,000,000 SD RV See Note)
Creates the Better Highways and Higher Education Fund and dedicates a certain portion of state sales and use taxes from out-of-state vendors into the fund (RE SEE FISC NOTE GF RV See Note)
Increases the mineral revenue base for the Budget Stabilization Fund and dedicates the additional revenue to higher education and transportation (OR SEE FISC NOTE SD RV)
Provides for temporary reduction of certain tax exemptions, exclusions, and deductions for support of K-12 and higher education (OR +$67,000,000 SD RV See Note)
Prohibits the $25 credit for educational expenses for each child attending nonpublic elementary and secondary school if the tax deduction for payment of tuition and fees is taken and establishes the Student Assessment for a Valuable Education (SAVE) Credit Program. (gov sig) (EN -$347,700,000 GF RV See Note)
Constitutional amendment to add certain property tax exemptions and reductions and to provide with respect to tax credits associated with them; to dedicate the net state revenue increase to a Tax Credit Reduction Fund and provide for allocations from the fund; and to provide for appropriations to local tax authorities. (2/3-CA 13sl(A)) (EG -$597,000,000 LF RV See Note)
Provides for the dedication of certain proceeds for higher education and eliminates certain dedications of proceeds. (gov sig) (OR +$25,000,000 GF RV See Note)
Provides a flat corporation income tax rate and eliminates the usage of certain tax credits against corporation income tax. (gov sig) (OR -$144,000,000 GF RV See Note)