MN SF3367

Reduces sales tax rate on aircraft from 6.5 percent to 3 percent for retail sales made in Minnesota or to a destination in the state, effective for sales and purchases made after June 30, 2010

Defines aircraft according to section 360.013, subdivision 37 of Minnesota Statutes

Directs revenues from the 3 percent aircraft sales tax to be deposited in the state airports fund as defined in section 360.017

Updates the revenue deposit statute to establish the new revenue stream for the state airports fund, separate from general fund deposits