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 purchased from a retail seller. Additionally, it updates the definition of "textiles" to correct the term "pillow cases" to "pillowcases."

Furthermore, the bill introduces specific provisions regarding delivery and installation charges, stating that the Department of Treasury must cancel outstanding balances related to these charges for assessments issued before April 26, 2023. It also prohibits the issuance of new assessments for these charges for any tax period before this date. These changes aim to streamline the administration of the sales tax and clarify the treatment of certain transactions under the law.

Statutes affected:
House Introduced Bill: 205.51