Status Summary

Passed out of the House Committee on Finance and referred to Rules 2 review on Apr 4.

Legislative Session

2017

Status

In Progress

Sponsor

Lytton

Addresses the state's tax system with regard to: (1) Capital gains taxes; (2) Business and occupation tax rate change and deduction; (3) Eliminating the sales and use tax exemption for bottled water; (4) Repealing the preferential business and occupation tax rate for warehousing and reselling prescription drugs; (5) Narrowing a use tax exemption for self-produced fuel; (6) Eliminating the preferential business and occupation tax rate for international investment management services; (7) Nonresident sales tax exemption remittances; (8) Graduated real estate excise tax rates; (9) Real estate excise tax on foreclosures; (10) Requiring local governments that issue building permits to supply subcontractor information to the department of revenue; (11) Remote sellers, referrers, and marketplace facilitators; (12) The expansion of an individual's liability for an entity's unpaid tax obligations; (13) Reducing interest on tax refunds; and (14) Transfers to the education legacy trust account.

Appears to generate approx. $2.8b in the 17-19 biennium.