The bill amends the General Sales Tax Act of 1933 by updating definitions and provisions related to sales tax exemptions and the treatment of certain charges. It clarifies the definition of "person" to include various entities, modifies the definition of "sales price," and introduces new language regarding delivery and installation charges, mandating the Department of Treasury to cancel outstanding balances related to these charges by a specified date while prohibiting new assessments for tax periods prior to that date. Additionally, the bill expands the list of exemptions from sales tax, particularly for nonprofit organizations and educational institutions, and specifies conditions for agricultural and commercial transactions, including the sale of tangible personal property used in agricultural operations.

Furthermore, the bill proposes new exemptions for feminine hygiene products, watercraft with a 15-day permit, and recreational watercraft when the tax exceeds $18,000, while clarifying that the exemption for recreational watercraft does not apply to the first $18,000 of tax due. It also includes definitions for terms such as "watercraft," "aquatic vegetation," and "greenhouse," and makes deletions to existing language, including the removal of certain definitions and the retroactive application of specific exemptions. The amendments emphasize that exemptions do not cover transfers of food, fuel, clothing, or similar items for personal consumption unless they meet specific agricultural criteria, and they are set to take effect 90 days after the bill is enacted into law.

Statutes affected:
Senate Introduced Bill: 205.51, 205.54