AZ SB1029

Adds new distribution of revenues for adult education and adult literacy programs, directing transaction privilege tax and use tax revenues from sales of four-inch diameter or larger pipes and valves used to transport oil, natural gas, artificial gas, water, or coal slurry to the department of education.

Removes the existing exemption for four-inch diameter or larger pipes and valves from the retail classification tax base under section 42-5061, effective December 31, 2014.

Removes the corresponding exemption for four-inch diameter or larger pipes and valves from the use tax exemptions under section 42-5159, making these items taxable.

Makes technical corrections and grammar updates throughout Arizona Revised Statutes sections 42-5061, 42-5064, 42-5071, 42-5075, 42-5159, and 43-1082 regarding machinery and equipment exemptions.

Effective date is December 31, 2014, with repeals of conflicting prior versions of the amended sections.