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1999 SESSION

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SB 781 Sales and use tax liability of industrial development authorities.

Introduced by: Charles J. Colgan | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Sales and use tax liability of industrial development authorities. Curtails the sales and use tax exemption currently available to industrial development authorities (IDAs) that purchase construction materials tax-free and furnish them to private companies. The measure excludes tangible personal property purchased by IDAs from the governmental sales tax exemption unless it is paid for out of public funds. An exception is carved out for the Advanced Shipbuilding and Carrier Integration Center.


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