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 category (xvi) that allows for credit for the agreed-upon value of a portable electronic device used as part payment for a new or used device purchased from a retail seller. This new provision specifies that the value of the credit must be separately stated on the invoice and defines "portable electronic device" to encompass a range of items such as smartphones, laptops, and tablets.

Additionally, the bill introduces specific provisions regarding delivery and installation charges, mandating the cancellation of outstanding balances related to these charges for assessments issued before April 26, 2023. It prohibits the issuance of new assessments for such charges for any tax period prior to this date that remains open under the statute of limitations. These changes aim to streamline the administration of the sales tax and provide clarity on the treatment of certain transactions and charges.

Statutes affected:
House Introduced Bill: 205.51
As Passed by the House: 205.51