Exempts restaurant revitalization fund grants from state general excise tax and requires refunds for previously paid taxes.

This bill exempts grants received from the federal restaurant revitalization fund by eligible businesses from the state general excise tax. It requires the Department of Taxation to notify eligible taxpayers of their eligibility for refunds and mandates that any state general excise taxes paid by eligible businesses for these grants be refunded. The bill applies retroactively to March 11, 2021, and takes effect on July 1, 2026.

Exempts restaurant revitalization fund grants from state general excise tax and requires refunds for previously paid taxes.

This bill exempts grants received from the federal restaurant revitalization fund by eligible businesses from the state general excise tax. It requires the Department of Taxation to notify eligible taxpayers of their eligibility for refunds and mandates that any state general excise taxes paid by eligible businesses for these grants be refunded. The bill applies retroactively to March 11, 2021, and takes effect on July 1, 2026.