This bill amends the General Sales Tax Act of 1933 by adding a new section, 4hh, which provides a sales tax exemption for the purchase of motor vehicles by qualified disabled veterans. The exemption will take effect on January 1, 2026, and applies only if the vehicle is registered to the veteran and is intended for personal use. The term "qualified disabled veteran" is defined in accordance with section 7b of the General Property Tax Act.

Additionally, the bill makes several adjustments to existing provisions regarding the distribution of sales tax revenues. It specifies that revenue lost to the state school aid fund due to the new exemption for disabled veterans will be accounted for in the calculations of lost revenue from other exemptions. This ensures that the financial implications of the new exemption are considered in the broader context of tax revenue distribution.

Statutes affected:
House Introduced Bill: 205.75