Introduced Version






HOUSE BILL No. 1054

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-2.5-5-39.

Synopsis: Sales tax exemption for ATVs. Exempts a retail transaction involving an all terrain vehicle (ATV) from the state gross retail tax if the person acquiring the ATV intends to use it for agricultural purposes.

Effective: July 1, 2003.





Goodin




    January 7, 2003, read first time and referred to Committee on Ways and Means.







Introduced

First Regular Session 113th General Assembly (2003)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
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HOUSE BILL No. 1054



    A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Be it enacted by the General Assembly of the State of Indiana:

SOURCE: IC 6-2.5-5-39; (03)IN1054.1.1. -->     SECTION 1. IC 6-2.5-5-39 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE JULY 1, 2003]: Sec. 39. (a) For purposes of this section, "all terrain vehicle" has the meaning set forth in IC 15-7-7-2.
    (b) For purposes of this section, "agricultural purpose" has the meaning set forth in IC 14-21-1-24.
    (c) A retail transaction involving an all terrain vehicle is exempt from the state gross retail tax if the person acquiring the all terrain vehicle intends to use it for agricultural purposes.

SOURCE: ; (03)IN1054.1.2. -->     SECTION 2. [EFFECTIVE JULY 1, 2003] IC 6-2.5-5-39 , as added by this act, applies to retail transactions involving all terrain vehicles that occur after June 30, 2003.