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OK SB992

Bill

Official Source

Status

Introduced

2/1/2016

Primary Sponsor

Jason Smalley

Click for details

Origin

Senate

2016 Regular Session

AI Summary

  • Amends 68 O.S. 2011, Section 1356 to narrow the sales tax exemption for museums by removing "or other entities" from the exemption language
  • Sales tax exemption now applies only to museums accredited by the American Association of Museums that are tax-exempt under Internal Revenue Code Section 501(c)(3)
  • Purchasers must certify in writing on invoices that purchases are made on behalf of the museum; false certification is a misdemeanor punishable by double the sales tax amount or up to 60 days incarceration
  • Effective date: November 1, 2016

Legislative Description

Sales tax; modifying exemption for certain museums. Effective date.

Last Action

Second Reading referred to Finance

2/2/2016

Committee Referrals

Finance2/2/2016

Full Bill Text

No bill text available