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1997 SESSION

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SB 688 Sales tax exemption; Romanian-American Enterprise Fund.

Introduced by: Patricia S. Ticer | all patrons    ...    notes | add to my profiles

SUMMARY:

Sales and use tax exemption; miscellaneous organizations. Grants a sales and use tax exemption for purchases by any nonstock, nonprofit corporation organized under the laws of the State of Delaware which is exempt from taxation under § 501 (c) (3) of the Internal Revenue Code and was formed for the purposes of (i) promoting the development of the private sector of Romania and (ii) carrying out the Support For East European Democracy Act. The Romanian-American Enterprise Fund would be a beneficiary of the exemption.


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