Adopting recommendations from the tax preference performance review process, eliminating obsolete tax preferences, clarifying legislative intent, and addressing changes in constitutional law.
Modifying business and occupation tax surcharges, rates and the advanced computing surcharge cap, clarifying the business and occupation tax deduction for certain investments, and creating a temporary business and occupation tax surcharge on large companies.
Modernizing the excise taxes on select services and nicotine products and requiring certain large businesses to make a one-time prepayment of state sales tax collection.
Increasing funding to the education legacy trust account by creating a more progressive rate structure for the capital gains tax and estate tax.
Investing in the state’s paramount duty to fund K-12 education and build strong and safe communities.
Establishing a tax on certain business activities related to surpluses generated under the zero-emission vehicle program.
