The bill amends the Use Tax Act of 1937 by revising Section 4k to clarify the tax exemptions applicable to aircraft and related parts. It specifies that the tax does not apply to the use of an aircraft by a domestic air carrier if the aircraft has a maximum certificated takeoff weight of at least 6,000 pounds and is used solely for transporting air cargo, passengers, or a combination of both. Additionally, the bill removes previous conditions regarding the aircraft's weight and usage, streamlining the criteria for tax exemption.

Furthermore, the bill eliminates certain conditions related to the sale of parts or materials affixed to aircraft, such as the requirement for the aircraft to leave the state within 15 days after service and the stipulation that the aircraft was not based or registered in the state before the parts were affixed. It also updates definitions related to aircraft and other terms, ensuring clarity in the application of the law. The bill is set to take effect 90 days after being enacted, contingent upon the passage of related legislation.

Statutes affected:
House Introduced Bill: 205.94