Policy and technical changes made to individual income and corporate franchise taxes, sales and use taxes, property taxes and local government aids, and other miscellaneous taxes and tax-related provisions.
Income and property tax provisions modified, unlimited subtraction allowed for Social Security income, first and second tier income tax rates reduced by one percentage point, direct payments to taxpayers provided, valuation limit modified for property and homestead market value exclusion increased, and refundable child credit allowed.
Individual income and corporate franchise taxes, sales and use taxes, property taxes and local government aids, and other miscellaneous taxes and tax-related provisions policy and technical changes made.