Modifies provisions relating to political subdivisions
Phase-out state income tax; repeal commercial activity tax
Phase-out state income tax; repeal commercial activity tax
Repeals expired, terminated, sunset, and obsolete sections, and portions of sections, of law
Eliminating the income limit to qualify for the subtraction modification exempting social security benefits, increasing the income tax credit amount for household and dependent care expenses, establishing the veterans' valor property tax relief act providing for an income tax credit or refund for eligible individuals, citing the increased property tax homestead refund claim section as the homeowners' property tax freeze program, decreasing the normal privilege tax rate, increasing the extent of property tax exemption for residential property from the statewide school levy, decreasing the rate of ad valorem tax imposed by a school district; providing for certain transfers to the state school district finance fund, reducing the state rate of tax on sales of food and food ingredients and modifying the percent credited to the state highway fund from revenue collected.
Authorizes a sales tax exemption for boat docks