Bill Status of SB2307 94th General Assembly
Short Description: USE & OCC TAXES-MANUFACTURING
Sen. Terry Link and Dan Cronin
| 1/9/2007||Senate||Session Sine Die|
Statutes Amended In Order of Appearance
Synopsis As Introduced
Amends the Use Tax Act and the Retailers' Occupation Tax Act. Provides that the manufacturing and assembling machinery and equipment exemption also includes production related tangible personal property. Defines "production related tangible personal property" as all tangible personal property used or consumed by the purchaser in a manufacturing facility in which a manufacturing process takes place, including tangible personal property purchased for incorporation into real estate within a manufacturing facility and including, but not limited to, tangible personal property used or consumed in activities such as research and development, preproduction material handling, receiving, quality control, inventory control, storage, staging, and packaging for shipping and transportation purposes. Provides that "production related tangible personal property" does not include (i) tangible personal property used, within or without a manufacturing facility, in sales, purchasing, accounting, fiscal management, marketing, personnel recruitment or selection, or landscaping or (ii) tangible personal property required to be titled or registered with a department, agency, or unit of federal, state, or local government. Effective immediately.
|Date||Chamber|| Action|| 1/12/2006||Senate||Filed with Secretary by Sen. Terry Link|| 1/12/2006||Senate||First Reading|| 1/12/2006||Senate||Referred to Rules|| 1/19/2006||Senate||Added as Co-Sponsor Sen. Dan Cronin|| 1/9/2007||Senate||Session Sine Die|