Amendment vs bill Amendment 368 vs Reprint 1

Struck = removed from the bill · added = the amendment's new text.

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EXEMPT (Reprinted with amendments adopted on April 21, 2025) FIRST REPRINT A.B.
Session (83rd) A AB403 368 Amendment No.
403 A SSEMBLY B ILLN O.
368 Assembly Amendment to Assembly Bill No.
403–ASSEMBLYMEMBER TORRES -FOSSETT M ARCH 11, 2025 ____________ Referred to Committee on Revenue SUMMARY—Proposes to exempt from sales and use taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic.
403 (BDR 32-565) Proposed by:
Assembly Committee on Revenue Amends:
Summary:
No Title:
No Preamble:
No Joint Sponsorship:
No Digest:
Yes ASSEMBLY ACTION Initial and Dat| SENATE ACTION Initial and Date Adopted Lost | Adopted Lost Concurred In Not | Concurred In Not Receded Not | Receded Not EXPLANATION:
Matter in (1) blue bold italics is new language in the original bill;
(2) variations of green bold underlining is language proposed to be added in this amendment;
(3) red strikethrough is deleted language in the original bill;
(4) purple double strikethrough is language proposed to be deleted in this amendment;
(5) orange double underlining is deleted language in the original bill proposed to be retained in this amendment.
CCP/JFD - Date:
4/17/2025 A.B.
No.
403—Proposes to exempt from sales and use taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic.
(BDR 32-565) Page 1 of 9 *A_AB403_368* Assembly Amendment No.
368 to Assembly Bill No.
403 Page 3 ASSEMBLY B ILLN O.
403–ASSEMBLYMEMBER TORRES -FOSSETT M ARCH 11,2025 _______________ Referred to Committee on Revenue SUMMARY—Proposes to exempt from sales and use taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic.
19, § 1) 2026 General Election of whether the Sales and Use Tax Act of 1955 should beers at the amended to provide an exemption for the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic, if the amount of the allowance is known and provided in full to the customer at the time of purchase and stated on contemporaneous transaction.
19, § 1) Sections 2-9 of this bill require the submission of a question to the voters at the 2026 General Election of whether the Sales and Use Tax Act of 1955 should be amended to provide an exemption for the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable the time of purchase and stated on the sales receipt and the trade-in and purchase occur as part of a single, contemporaneous transaction.
These - *AB403_R1* – 2 – tax exemptions become effective on January 1, 2027, and expire by limitation on December 31, 2050, only if the voters approve the amendment to the Sales and Use TaxAny amendment to the Local School Support Tax Law also applies to other sales and use taxes imposed under existing law.
These tax exemptions become effective on January 1, 2027, and expire by limitation on December 31, 2050, only if the voters approve the amendment to the Sales and Use Tax Act of 1955 at the General Election in 2026.
Any amendment to the Local School Support Tax Law also applies to other sales and use taxes imposed under existing law.
THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Assembly Amendment No.
368 to Assembly Bill No.
403 Page 4 THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:
Notice is hereby given that at the General Election on November 3, 2026, a question will appear on the ballot for the adoption or rejection by the registered voters of the State of the following proposed act:
Notice is hereby given that at the General Election on November 3, 2026, a question will appear on the ballot for the adoption or rejection by the registered voters AN ACT to amend an Act entitled “An Act to provide revenue for the State of Nevada;
AN ACT to amend an Act entitled “An Act to provide revenue for the State of Nevada;
- *AB403_R1* – 3 – defining certain terms;
defining certain terms;
5 THE PEOPLE OF THE STATE OF NEVADA DO ENACT AS FOLLOWS:
THE PEOPLE OF THE STATE OF NEVADA DO ENACT AS FOLLOWS:
8 Section 1.
Section 1.
(b) The cost of materials used, labor or service cost, interest charged, losses, or any other expenses.
Assembly Amendment No.
368 to Assembly Bill No.
403 Page 5 (b) The cost of materials used, labor or service cost, interest charged, losses, or any other expenses.
- *AB403_R1* – 4 – (d) The amount of any tax, not including any manufacturers’ or importers’ excise tax, imposed by the United States upon or with respect to retail sales, whether imposed upon the retailer or consumer.
(d) The amount of any tax, not including any manufacturers’ or importers’ excise tax, imposed by the United States upon or with respect to retail sales, whether imposed upon the retailer or consumer.
and (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
and [(2)] (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
(b) The cost of the materials used, labor or service cost, interest paid, losses or any other expense.
Assembly Amendment No.
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368 to Assembly Bill No.
403 Page 6 (b) The cost of the materials used, labor or service cost, interest paid, losses or any other expense.
- *AB403_R1* – 5 – 2.
2.
and (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
and [(2)] (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
- *AB403_R1* – 6 – Sec.
Sec.
Shall the Sales and Use Tax Act of 1955 be amended to exempt from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of tangible personal property, the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic? Yes No Sec.
Shall the Sales and Use Tax Act of 1955 be amended to exempt from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of tangible personal property, the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic? Yes No Assembly Amendment No.
368 to Assembly Bill No.
403 Page 7 Sec.
(Explanation of Question) The proposed amendment to the Sales and Use Tax Act of 1955 would exempt from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of tangible personal property, the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic if the amount of the allowance is known and provided in full to the customer at the time of purchase and stated on the sales receipt and the trade-in and purchase occur as part of a single, contemporaneous transaction.
5 (Explanation of Question) The proposed amendment to the Sales and Use Tax Act of 1955 would exempt from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of tangible personal property, the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic if the amount of the allowance is known and provided in full to the customer at the time of purchase and stated on the sales receipt and the trade-in and purchase occur as part of a single, contemporaneous transaction.
Any informalities, omissions or defects in the content or making of the publications, proclamations or notices provided for in this act and by the general election laws under which this election is held must be so construed as not to invalidate the adoption of the act by a majority of the registered voters voting on the question if it - *AB403_R1* – 7 – can be ascertained with reasonable certainty from the official returns transmitted to the Office of the Secretary of State whether the proposed amendment was adopted by a majority of those registered voters.
Any informalities, omissions or defects in the content or making of the publications, proclamations or notices provided for in this act and by the general election laws under which this election is held must be so construed as not to invalidate the adoption of the act by a majority of the registered voters voting on the question if it can be ascertained with reasonable certainty from the official returns transmitted to the Office of the Secretary of State whether the proposed amendment was adopted by a majority of those registered voters.
(b) The cost of the materials used, labor or service cost, interest paid, losses or any other expense.
Assembly Amendment No.
368 to Assembly Bill No.
403 Page 8 (b) The cost of the materials used, labor or service cost, interest paid, losses or any other expense.
(b) The sale price of property returned by customers when the full sale price is refunded either in cash or credit, but this exclusion does not apply in any instance when the customer, in order to obtain - *AB403_R1* – 8 – the refund, is required to purchase other property at a price greater than the amount charged for the property that is returned.
(b) The sale price of property returned by customers when the full sale price is refunded either in cash or credit, but this exclusion does not apply in any instance when the customer, in order to obtain the refund, is required to purchase other property at a price greater than the amount charged for the property that is returned.
and (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
and [(2)] (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
(b) The amount charged for property returned by customers when the entire amount charged therefor is refunded in cash or - *AB403_R1* – 9 – credit, except that this exclusion does not apply in any instance when the customer, in order to obtain the refund, is required to purchase other property at a price greater than the amount charged for the property that is returned.
(b) The amount charged for property returned by customers when the entire amount charged therefor is refunded in cash or credit, except that this exclusion does not apply in any instance when the customer, in order to obtain the refund, is Assembly Amendment No.
368 to Assembly Bill No.
403 Page 9 required to purchase other property at a price greater than the amount charged for the property that is returned.
and (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
and [(2)] (3) The trade-in of the used portable electronic and the purchase of another portable electronic occur as part of a single, contemporaneous transaction.
H - *AB403_R1*