SB 602 Creates a sales and use tax exemption for purchases of aviation fuel for transoceanic flights
Sponsor: Kennedy
LR Number: 1413S.03I Fiscal Note: 1413-03
Committee: Ways & Means
Last Action: 4/2/2007 - Hearing Conducted S Ways & Means Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2007

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Current Bill Summary

SB 602 - This act exempts purchases of aviation jet fuel for transoceanic flights from state sales and use taxes. For purposes of calculating the existing sales tax exemption for aviation fuel purchased by common carriers or affiliate carriers, the amount of tax that would be owed, if not for the exemption created by this act, for purchases of aviation jet fuel on transoceanic flights may be used in arriving at the 1.5 million dollar maximum aggregate calendar year amount of state sales and use tax.