This bill proposes to amend current statutes regarding the transaction privilege tax (TPT) and use tax exemptions for pipes and valves. Specifically, it would expand the existing exemption to include pipes or valves that are four inches in diameter or larger and are used to transport wastewater, in addition to the current exemptions for oil, natural gas, artificial gas, water, and coal slurry. The current language in the statute will remain unchanged, except for the addition of "wastewater" in the relevant sections.

Furthermore, the bill stipulates that the new provisions will apply to taxable periods beginning on or after the first day of the month following the general effective date of the act. This means that the expanded exemption will not take effect until the specified date, allowing for a transition period for businesses to adjust to the new regulations.

Statutes affected:
Introduced Version: 42-5061, 42-5159, 42-5156, 23-501, 36-1901, 28-5201, 42-5074, 42-6017, 88-525, 95-627, 99-661, 111-296, 28-5739, 28-8344, 42-5001, 42-5075, 42-5009, 28-2154, 28-2154.01, 42-5073, 3-311, 46-191, 36-551, 41-3201, 41-1514.02, 1-215, 49-426, 49-480, 41-1516, 44-1771, 42-5014, 42-5063, 45-604, 28-1171, 104-104, 41-1519, 44-1302, 42-5064, 42-5029, 42-5032.01
House Engrossed Version: 42-5061, 42-5159, 42-5156, 23-501, 36-1901, 28-5201, 42-5074, 42-6017, 88-525, 95-627, 99-661, 111-296, 28-5739, 28-8344, 42-5001, 42-5075, 42-5009, 28-2154, 28-2154.01, 42-5073, 3-311, 46-191, 36-551, 41-3201, 41-1514.02, 1-215, 49-426, 49-480, 41-1516, 44-1771, 42-5014, 42-5063, 45-604, 28-1171, 104-104, 41-1519, 44-1302, 42-5064, 42-5029, 42-5032.01