HB468 Summary

• Exempts parts, components, systems, supplies, and ancillary items used in conversion, reconfiguration, refurbishment, or repair of commercial passenger aircraft with seating capacity of 25 or more seats from sales tax, use tax, and property tax.

• Applies to aircraft originally configured with 25+ seats or presently having storage space sufficient to install 25+ seats.

• Aircraft must be located in a facility specifically designed for commercial aircraft heavy maintenance services to qualify for exemption.

• Amends Alabama Code Sections 40-9-1 (property tax exemptions), 40-23-4 (sales tax exemptions), and 40-23-62 (use tax exemptions).

• Becomes effective immediately upon passage and approval by the Governor.