Bill Summary – FastDemocracy

Digest: The Act makes changes to the CAT. (Flesch Readability Score: 100.0). 
	[Digest: The Act tells the LRO to study the corporate activity tax. (Flesch Readability Score: 64.9).] 
	[Requires the Legislative Revenue Officer to study the corporate activity tax. Directs the Legislative Revenue Officer to submit findings to the interim committees of the Legislative Assembly related to revenue not later than December 1, 2026.] 
	Modifies the provision that exempts receipts from the sale by certain pharmacies of prescription drugs to allow use of the exemption by critical access pharmacies and to require pharmacies allowed the exemption based on the number of locations to have at least one location in this state. 
	Applies to tax years beginning on or after January 1, 2026. 
	Removes the sunset from the exclusion for subcontracting payments. 
	Takes effect on the 91st day following adjournment sine die.
Statutes affected: 
A-Engrossed: 317A.123