The bill amends the General Sales Tax Act of 1933 by updating definitions and provisions related to sales tax. Notably, it clarifies the definition of "person" to include various entities, whether organized for profit or not, and modifies the definition of "sales price" to include a new subparagraph (xvi) that allows for credit for the agreed-upon value of a portable electronic device used as part payment for a new or used portable electronic device. Additionally, the bill makes changes to the treatment of delivery and installation charges, specifying that the Department of Treasury must cancel outstanding balances related to these charges for certain assessments issued before April 26, 2023.

Furthermore, the bill establishes that beginning April 26, 2023, the Department shall not issue new assessments for taxes related to delivery and installation charges for any tax period prior to this date. This aims to streamline the administration of the sales tax and provide clarity on the treatment of specific transactions, particularly those involving portable electronic devices and delivery or installation services.

Statutes affected:
House Introduced Bill: 205.51