The proposed bill, if enacted, would amend current statutes related to transaction privilege tax (TPT) and use tax exemptions for aviation-related transactions. Specifically, it would expand the existing TPT deductions and use tax exemptions to include property used for maintaining, repairing, or overhauling general aviation aircraft, as well as machinery, tools, and equipment used for these purposes, regardless of whether the user is a certified or licensed carrier. This change would replace the current limitation that restricts these benefits to certified or licensed carriers only.

Additionally, the bill introduces new definitions, such as "always hangared aircraft," and modifies existing language to clarify the scope of the exemptions. It would also remove certain provisions regarding the registration of aircraft entering the state for intrastate commercial operations. The amendments would take effect for taxable periods beginning on or after the first day of the month following the general effective date of the bill. Overall, these updates aim to broaden the tax benefits available to a wider range of aviation-related activities and entities.

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
Senate Engrossed Version: 28-8322, 42-5061, 42-5159, 28-8322.01, 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