Bill Text: IN SB0543 | 2013 | Regular Session | Introduced

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Bill Title: Sales tax exemption related to aircraft.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2013-01-14 - First reading: referred to Committee on Tax and Fiscal Policy [SB0543 Detail]

Download: Indiana-2013-SB0543-Introduced.html

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Introduced Version

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SENATE BILL No. 543

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DIGEST OF INTRODUCED BILL

Citations Affected: IC 6-2.5-5-46.

Synopsis: Sales tax exemption related to aircraft. Adds aircraft having the United States as its country of registration under the sales and use tax exemption for items related to the repair, maintenance, refurbishment, remodeling, or remanufacturing of the aircraft or an avionics system of the aircraft.

Effective: July 1, 2013.

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Mishler

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    January 14, 2013, read first time and referred to Committee on Tax and Fiscal Policy.

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Introduced

First Regular Session 118th General Assembly (2013)

PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or this style type reconciles conflicts between statutes enacted by the 2012 Regular Session of the General Assembly.

SENATE BILL No. 543

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    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-2.5-5-46; (13)IN0543.1.1. -->     SECTION 1. IC 6-2.5-5-46, AS ADDED BY P.L.153-2012, SECTION 5, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 46. (a) For purposes of this section, "aircraft" refers to an aircraft with a country of registration that is outside the United States and that is:
        (1) certified by the Federal Aviation Administration as having a minimum landing weight of at least five thousand (5,000) pounds; or
        (2) equipped with a turboprop or turbojet power plant.
    (b) Transactions involving tangible personal property (including materials, parts, equipment, and engines) are exempt from the state gross retail tax, if the property is:
        (1) used;
        (2) consumed; or
        (3) installed;
in furtherance of, or in, the repair, maintenance, refurbishment, remodeling, or remanufacturing of an aircraft or an avionics systems

system of an aircraft.
    (c) The exemption provided by this section applies to a transaction only if the retail merchant, at the time of the transaction, possesses a valid repair station certificate issued by the Federal Aviation Administration under 14 CFR 145 et seq. or other applicable law or regulation.