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'1 '1 I I I I I I I I I I I I I I I 1985 M~CI POLICY POSI?IONS AS ADOPTED BY THE BOAP. D ON OCTOBER 19a 1984 1. T A,"L.~T ] 0.": Goals: A, rrerert?' Ta~ Competitive, stable and predictable, administra- tive])' and economically efficient. 1. Reduce the effective tax rate on business property by Outing the 43% classification rate. 2. Improve the property tax appeal process by repealing re- strictions on tax appeal procedure. Improve accountability of iocai spending decisions by adopt- lng a "last dollar" property tax finance system for schools and local governmental units. B. Sales Tax l. Broaden manufacturers and processors sales :ax exemptions and rate reductions for investments in capital equipment. 2. Support retention of the current exemptions for business and professional services. C. Individual Income Tax 1. Retain the benefits of indexing by continuing bracket index- a:ion and repealing the taxable net income adjustment factor. 2. Simplify the individual income tax by conforming IRA treat- ment, ACRS, investment tax credit and minimum tax provisions. 3. Provide more competitive tax atructures by zeducing taxes. on middle incomes. 4. Retain the deductions for federal income taxes. D. eoF?orate Income Tax Moderate the effect of the unitary apportionment statutes by permitting affiliated corporations to file a consolidated return, by eliminating the mandatory application of our unitary reporting, and narrowing the statutory scope of "unitary" enterprises. 2. Conform to federal ACRS provisions of the Federal 1984 Tax Reform Act. Lower lhe statutory 12% rate to Retain the weighted and arithmetic average apportionment formulas.