Staff Analysis of the Legislation
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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. |