How SB 264 changes current law

AI-generated reading aid from the bill's amendatory text — verify against the official bill.

The bill sets a maximum tax rate on aircraft sales and expands tax exemptions for certain aircraft transactions.

• 212.05

  may not exceed $18,000 and on each repair of a boat in this state may not exceed $60,000. → may not exceed $18,000.

  This change specifies the maximum tax on aircraft sales or use.

• 212.08(7)

  (ss) Aircraft sales or leases.—The sale or lease of a qualified aircraft or an aircraft of less than 12,500 or more than 15,000 pounds maximum certified takeoff weight for use by a common carrier is exempt from the tax imposed by this chapter.

  This addition exempts certain aircraft sales or leases from sales tax.