Adopting recommendations to eliminate obsolete tax preferences and clarify legislative intent.

The bill adopts recommendations from the tax preference performance review process to eliminate obsolete tax preferences and clarify legislative intent for certain tax provisions. It removes several tax exemptions and modifies definitions to ensure they align with current legal standards and policy objectives. The bill also sets expiration dates for certain tax preferences and mandates evaluations of their effectiveness.

Adopting recommendations to eliminate obsolete tax preferences and clarify legislative intent.

The bill adopts recommendations from the tax preference performance review process to eliminate obsolete tax preferences and clarify legislative intent for certain tax provisions. It removes several tax exemptions and modifies definitions to ensure they align with current legal standards and policy objectives. The bill also sets expiration dates for certain tax preferences and mandates evaluations of their effectiveness.