OK SB331

Deletes sunset date for nonprofit local public or private school foundations sales tax exemption, making the exemption permanent rather than expiring July 1, 2014

Amends qualified aircraft maintenance facility definition to include component overhaul support buildings or structures owned, leased, or controlled by air common carriers with at least 2,000 full-time employees

Extends aircraft maintenance facility sales tax exemptions to include machinery, tools, supplies, equipment and related services used in repair, remodeling or maintenance of aircraft, effective July 1, 2012

Replaces provisions from Enrolled Senate Bill 1465 of the 2nd Session of the 53rd Oklahoma Legislature regarding aircraft maintenance facility structures and exemptions

Modifies sales tax exemptions under 68 O.S. Sections 1356 and 1357 (Oklahoma Sales Tax Code) to expand definition of qualifying aircraft facilities and related tangible property