SB11-073 Summary

• Repeals emergency regulation subjecting standardized software to state sales and use taxes, effective July 1, 2011.

• Reinstates sales tax exemptions for standardized software, direct mail advertising materials, and fuels used for industrial purposes.

• Eliminates $26 million aggregate cap on conservation easement tax credits for 2012-2013 tax years and repeals $250,000 cap on net operating loss deductions for corporations.

• Reinstates repealed tax credits for category 7 motor vehicles (30-40 mpg) and exemptions for candy, soft drinks, agricultural compounds, semen, and pesticides.

• Specifies increased traffic penalties in highway maintenance/construction zones only apply when workers are present in the zone.