Revises provisions relating to taxation. (BDR 32-895)
Establishing a new classification for managed timberland leased for substantial income
Reestablishes senior citizen supplemental stabilization aid.
The determination of state aid, boarding care costs, public improvement construction, bonds from contractors for public improvements, and school district levies; to provide for a transfer; and to provide an effective date.
Taxes provisions modification
individual income taxes, corporate franchise taxes, sales and use taxes, and other various taxes and tax-related provisions modified; various policy and technical changes made; income tax credits and subtractions modified; and enforcement, return, and audit provisions modified.
Relating to the computation of the franchise tax, including certain exclusions from the tax.
School funding; modifying calculation of State Aid; increasing percentage of certain funds to be retained. Effective date.