HB 24B-1008 Summary

• Creates an 11-member Tax Code Legislative Task Force with legislators, economists, accountants, lawyers, and representatives from business and community organizations to recommend tax restructuring.

• Task force must convene by June 2, 2025, meet quarterly, and submit a report to the legislature within one year recommending how to eliminate all state and local taxes and fees except sales and use tax.

• Required to compile all state and local revenue sources, calculate required sales tax rates to replace eliminated taxes, and provide options for progressive or flat tax structures.

• Legislative Council Staff, Office of Legislative Legal Services, and Joint Budget Committee staff shall provide assistance to the task force.

• Task force automatically repeals on June 30, 2027, and the act takes effect 90 days after final adjournment unless subject to voter approval via referendum petition.