(April 30, 2024) – The House and Senate Tax Conference met to discuss a new tax proposal that would include provisions from previous bills, such as increases in the standard deduction, reducing the mill levy or increase in the residential exemption and expediting the elimination of the food sales tax. The bill has two tiers of income tax, at rates of 5.15 and 5.2 percent. The new bill will be in Senate Bill 37. The House accepted these and this conference committee report will now run on both chamber floors.

The Senate also offered in House Bill 2096, a property tax freeze of 75 percent for veterans who are permanently totally disabled, increased income amount for the Homestead Act, excluded social security tax, property tax exemptions for businesses in competition with government entities, a property tax exemption for ATVs and off-road vehicles and watercraft, exclusion of valid sales for some property transactions, changes to the payment under protest proceedings. Then, add dark store language and the child care tax credit. The new conference committee report will now need to run across both chamber floors.