FL H0913

Defines "fractional aircraft ownership program" as a program meeting federal aviation regulations (14 C.F.R. part 91, subpart K) with a minimum of 25 aircraft owned or leased by the program manager.

Exempts the sale or use of aircraft primarily used in fractional aircraft ownership programs from sales tax, including parts and labor for maintenance, repair, and overhaul of such aircraft.

Requires program managers to furnish dealers with a certificate confirming eligibility for the exemption, with the option to keep certificates on file for continual tax-exempt purchases.

Caps the maximum sales tax on the sale or use of fractional aircraft ownership interests at $300, including discretionary sales surtax, applied to total consideration including monthly management and maintenance fees.

Effective date: July 1, 2010.