LEASED AIRCRAFT: SALES TAX

Senate Bill 437 (Substitute H-2)

Sponsor: Sen. Bill Bullard, Jr.

Addendum to SFA Analysis (12-13-01)

Senate Committee: Finance

House Committee: Tax Policy

ADDENDUM TO SENATE FISCAL AGENCY ANALYSIS OF SB 437 DATED 6-4-01:

HOUSE COMMITTEE ACTION:

The House Committee on Tax Policy adopted a substitute for the bill, Substitute H-2, which would clarify that the "hold harmless" language in the bill (that requires repayment of the State School Aid Fund from the general fund) would apply only for revenue lost due to the new exemption added by the bill.

Analyst: D. Martens

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This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.