Bill > SB0885

This bill amends the General Sales Tax Act to exempt from sales tax the sale of aircraft with a maximum certificated takeoff weight of at least 6,000 pounds that are used solely to transport air cargo, passengers, or a combination of both. It also exempts the sale of parts or materials affixed to such aircraft, as long as the aircraft leaves the state within 15 days. Additionally, the bill exempts the sale of aircraft that are temporarily located in the state for the purpose of sale and customization, provided the aircraft leaves the state within 15 days. The bill also defines key terms such as "aircraft," "based in this state," "customization," "domestic air carrier," and "registered in this state." The amendatory act takes effect 90 days after enactment, and the legislature intends to appropriate sufficient funds from the state general fund to the state school aid fund to compensate for any loss of revenue resulting from the act.