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SB 0042 -	Tangible Personal Property Amendments

Tracking Level:

Monitor

Sponsor:

Daniel McCay (R)

Last Action:

3/14/2019 - Senate - Senate/ filed in Senate file for bills not passed

Senate Committee:

Revenue and Taxation

Assigned To:

Opposed	Next Bill
Taxes	Next Bill

Staff Analysis of the Legislation

This legislation would have eliminated the tangible personal property tax for a business if at the time of purchase sale tax was paid on the item.

Municipal Impact: This legislation does not require any action because it failed to pass out of the Senate.

ULCT Action: SB 42 is scaled down version of HB 375 from the 2018 Legislative Session. It is anticipated this legislation will continue to be introduced and discussed at the Legislature.

Bill Summary from the State Site - Click for the State Summary Page / Click for Current Full Text