HB 2186-S - DIGEST
(DIGEST OF PROPOSED 1ST SUBSTITUTE)

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.