The proposed bill would amend current statutes regarding the transaction privilege tax (TPT) and use tax exemptions related to clean rooms. Under the current law, clean rooms are defined specifically for the manufacturing, processing, fabrication, or research and development of semiconductor products. The bill would expand this definition to include clean rooms used for biotechnology products, life sciences products, and medical devices. Additionally, it would introduce the term "clean room equipment" and provide detailed definitions for biotechnology products, life sciences products, and medical devices, enhancing the clarity of the statute.

Furthermore, the bill would remove certain outdated language and clarify the components that constitute a clean room and its equipment. It specifies that the clean room environment includes all necessary systems and fixtures to maintain controlled conditions, while explicitly excluding the building itself. The changes 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 scope of tax deductions and exemptions for clean rooms, thereby potentially reducing the tax burden for businesses involved in these sectors.

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