Revises the state excise tax laws related to: (1) Minimum nexus standards;

(2) Abusive tax transactions;

(3) Modifying and placing a cap on the first mortgage deduction;

(4) Direct seller business and occupation tax exemption;

(5) Business and occupation tax preferences for manufacturers of products derived from certain agricultural products;

(6) Suspending the sales and use tax exemption for livestock nutrient equipment and facilities;

(7) Ending the preferential business and occupation tax treatment received by directors of corporations;

(8) Airplane excise tax;

(9) Public utility tax on interstate hauls;

(10) Foreclosure exemption;

(11) Tax debts;

(12) Imposing sales and use tax on the sale of custom software;

(13) Increasing tobacco taxes;

(14) Imposing an additional hazardous substance tax;

(15) Modifying the sales tax exemption for certain fertilizers, sprays, and washes;

(16) Imposing a one cent per ounce tax on carbonated beverages;

(17) Eliminating tax preferences for bullion; and

(18) Repealing the nonresident sales tax exemption; the business and occupation tax credit for new employment for international service activities; the sales and use tax exemptions for candy and bakery items; and the sales tax exemption for coal used at coal-fired thermal electric generation facilities.