HF3783 Summary

• Reduces the sales and use tax rate on aircraft from 6.5 percent to 3 percent for retail sales made in Minnesota or to destinations in Minnesota by persons required to have a sales tax permit.

• Creates a new sales tax subdivision specifically for aircraft, defined as aircraft under Minnesota Statutes section 360.013, subdivision 37.

• Establishes that revenues from the 3 percent aircraft sales tax must be deposited in the state airports fund as defined in section 360.017.

• All changes to the sales tax rates and revenue deposit procedures are effective for sales and purchases made after June 30, 2010.