FISCAL NOTE

House Bill 20 (Act 2022-293) as enacted extends the sales tax exemption on parts, components, and systems for certain aircraft from May 30, 2022, currently, to May 30, 2027 which could decrease sales or use tax receipts otherwise received by the Education Trust Fund or State General Fund by an undetermined amount dependent upon the amount of sales exempted by the provisions of this act.

Additionally, this act provides that any exemption of sales tax allowed on contracts or projects entered into on or before May 30, 2027, shall not affect the availability of those exemptions until May 30, 2030.

Further, this act provides that the exemptions provided by this act may not be extended, expanded, or modified by a Joint Resolution of the Legislature.