Repeal and savings preserve existing rights, liabilities and pending tax proceedings despite statutory repeal and amendments. The Act repeals specified state tax statutes while providing that repeal or amendment shall not revive non existing matters, shall not affect previous operation of the repealed or amended Acts, and shall not extinguish rights, liabilities or obligations accrued thereunder. Tax exemptions rescinded on or after the appointed day cease as privileges. Repeal does not affect liability for tax, surcharge, penalty, interest or related punishments, and allows investigations, assessments, adjudications, recoveries and appellate proceedings to be continued or instituted as if repeal had not occurred.