SB701:

Retail Sales and Use Tax; extends sunset date for exemption of aircraft components.

Bill Summary:

Sales and use tax exemption; aircraft components. Extends the sunset date for the sales and use tax exemption for parts, engines, and supplies used for maintaining, repairing, or reconditioning aircraft or any aircraft's avionics system, engine, or component parts from July 1, 2022, to July 1, 2025. The bill also restricts the exemption for manned systems to aircraft with a maximum takeoff weight of at least 2,400 pounds. This bill is identical to HB 462.