Senate Bill 543 Summary

• Expands sales tax exemption to include aircraft registered in the United States, in addition to foreign-registered aircraft meeting Federal Aviation Administration weight or power plant requirements.

• Exempts tangible personal property (materials, parts, equipment, engines) from state gross retail tax when used in repair, maintenance, refurbishment, remodeling, or remanufacturing of aircraft or avionics systems.

• Limits exemption to transactions where the retail merchant holds a valid Federal Aviation Administration repair station certificate under 14 CFR 145 or applicable regulations.

• Effective date: July 1, 2013.