S.F. No. 2 Summary

• Modifies referendum equalization levy thresholds for school districts, increasing the first tier from $567,000 to $650,000 and second tier from $290,000 to $320,000, effective for fiscal year 2022 and later.

• Makes the student loan credit refundable for eligible individuals and allows married couples each to claim the credit, with refunds appropriated from the general fund.

• Establishes partnership audit provisions including federal adjustment reporting requirements, state partnership representative authority, and entity-level payment elections for partnerships, effective retroactively for tax years beginning after December 31, 2017.

• Reduces lawful gambling tax rates for combined net receipts from nine to eight percent at the lowest bracket and decreases rates in higher brackets, with sports-themed tipboards exempted from taxation.

• Provides aid penalty forgiveness payments to cities of Sargeant ($9,280) and Roosevelt ($25,410) and extends sales tax exemptions for multiple local government facility construction projects through specified dates.