Exempts sales of building materials for new single-family residences from sales tax for two years.

This bill exempts sales of qualified building materials from sales tax for two years when used in the construction of a new single-family residence. A purchaser can only claim this exemption if a building permit is issued and in good standing. The bill defines qualified building materials and qualified residences, which include single-family dwellings and 1- to 4-family houses. The Department of Treasury must submit a report on the exemption's effect on residential housing in the state.

Exempts sales of building materials for new single-family residences from sales tax for two years.

This bill exempts sales of qualified building materials from sales tax for two years when used in the construction of a new single-family residence. A purchaser can only claim this exemption if a building permit is issued and in good standing. The bill defines qualified building materials and qualified residences, which include single-family dwellings and 1- to 4-family houses. The Department of Treasury must submit a report on the exemption's effect on residential housing in the state.