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 portable electronic device. 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, mandating the Department of Treasury to cancel outstanding balances related to these charges by July 25, 2023, and prohibits new assessments for such charges for any tax period before April 26, 2023. This aims to streamline the administration of the sales tax and provide clarity on the treatment of certain transactions under the law.

Statutes affected:
Senate Introduced Bill: 205.51