Bill would increase aviation funding, save tax exemption
The full Missouri House is set to consider a bill that would help grow the state’s aviation trust fund while expanding a tax exemption on aircraft sales. S.B.930 would remove the cap on the amount of money that can be deposited into the state aviation trust fund-a move AOPA has actively supported. Currently, only $6 million of the taxes collected on aviation fuel can go into the fund. The measure would also expand an existing sales tax exemption to cover the purchase of materials, replacement parts, and equipment used for the modification, repair, replacement, and maintenance of aircraft, aircraft powerplants, and aircraft accessories. That exemption would take effect Jan. 1, 2009, and last until Jan. 1, 2015.
May 9, 2008