Provides a business and occupation tax deduction for amounts derived from the manufacturing or sale of cross-laminated timber.

Provides a sales and use tax exemption for the charges made for labor and services rendered by any person with respect to the constructing of a new building that meets certain conditions, or the charges for sales of tangible personal property that becomes an ingredient or component of a building during the course of the constructing of a new building that meets certain conditions.

Expires July 1, 2023.