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DIGEST OF INTRODUCED BILL
Elimination of property taxes. Eliminates all ad valorem property taxes. Provides for the implementation of a local residential income tax, a local fire and safety benefit tax, a state commercial activity tax, and a state employer payroll expense tax to replace revenue lost to political subdivisions from the elimination of property taxes. Increases the state gross retail and use tax. Reduces the state adjusted gross income tax rate. Makes other changes to the tax laws. Repeals a temporary property tax homestead credit and appropriation for 2010. Makes appropriations.