This bill phases out the tax imposed on the sale of tangible personal property, products transferred electronically and taxable services by reducing the tax rate by 1/2 of a percentage point every 2 years, beginning January 1, 2026, until the rate is 0% for each category of tangible personal property, products transferred electronically or taxable service subject to sales tax. Since use taxes are based on the sales tax rate, use tax rates will also be decreased a commensurate amount. The bill also requires the State Tax Assessor, the month before a decrease is scheduled to take effect, to publish on the bureau's publicly accessible website the new rates and to submit a bill to the joint standing committee of the Legislature having jurisdiction over taxation matters making the statutory changes necessitated by the decreased rates.