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Text: SF00223                           Text: SF00225
Text: SF00200 - SF00299                 Text: SF Index
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Senate File 224

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 422.45, subsection 38A, Code 1997, is
  1  2 amended to read as follows:
  1  3    38A.  The gross receipts from the sale or rental of
  1  4 aircraft; the sale or rental of tangible personal property
  1  5 permanently affixed or attached as a component part of the
  1  6 aircraft, including but not limited to repair or replacement
  1  7 materials or parts; and the gross receipts of all services
  1  8 used for aircraft repair, remodeling, and maintenance services
  1  9 when such services are performed on aircraft, aircraft
  1 10 engines, or aircraft component materials or parts.  For the
  1 11 purposes of this exemption, "aircraft" means aircraft used in
  1 12 a scheduled an interstate federal aviation administration-
  1 13 certified air carrier operation.
  1 14    Sec. 2.  EFFECTIVE DATE.  This Act, being deemed of
  1 15 immediate importance, takes effect upon enactment.  
  1 16                           EXPLANATION
  1 17    Current law provides a sales tax exemption for the gross
  1 18 receipts from the sale or rental of aircraft, the sale or
  1 19 rental of component parts of an aircraft, and from certain
  1 20 services used for aircraft repair, remodeling, and maintenance
  1 21 services.  The exemption is limited to aircraft used in a
  1 22 scheduled interstate federal aviation administration-certified
  1 23 air carrier operation.  This bill removes the limitation that
  1 24 the operation be scheduled and instead allows the exemption
  1 25 for an aircraft used in an interstate federal aviation
  1 26 administration-certified air carrier operation.
  1 27    This bill is effective upon enactment.  
  1 28 LSB 1694SS 77
  1 29 mk/jw/5.1
     
Text: SF00223                           Text: SF00225
Text: SF00200 - SF00299                 Text: SF Index
Bills and Amendments: General Index     Bill History: General Index
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