Loading chat...
IN HB1267
Bill
Status
1/13/2015
Primary Sponsor
Robert Cherry
Click for details
AI Summary
-
Directs the Indiana Department of Revenue to determine the portion of state gross retail and use taxes attributable to aircraft sales and deposit that amount in the airport development grant fund under IC 8-21-11-4.
-
Requires aviation fuel excise taxes collected under IC 6-6-13 to be transferred to the state treasurer for deposit in the airport development grant fund instead of the state general fund.
-
Allocates remaining sales and use tax collections (after aircraft sales are removed) with 98.848% to the state general fund, 1% to the motor vehicle highway account, 0.029% to the industrial rail service fund, and 0.123% to the commuter rail service fund.
-
Effective July 1, 2015.
Legislative Description
Aviation taxes. Provides that: (1) aviation fuel excise tax revenue; and (2) sales and use tax revenue attributable to the sale of aircraft; are to be deposited in the airport development grant fund.
Last Action
Authored by Representative Cherry
1/13/2015