Vermont S0246 exempts noncommercial aircraft from sales and use tax and creates a business personal property tax for such aircraft.

Vermont S0246 amends state tax law to exempt noncommercial aircraft from sales and use tax, while creating a business personal property tax for these aircraft. The bill also mandates a study on the feasibility of sharing revenue generated through air commerce with Vermont airports. This study will assess the state's capacity to identify and share sales and use tax revenue, property tax revenue, and the creation of dedicated funds for airports. The act will take effect on July 1, 2026.

Vermont S0246 exempts noncommercial aircraft from sales and use tax and creates a business personal property tax for such aircraft.

Vermont S0246 amends state tax law to exempt noncommercial aircraft from sales and use tax, while creating a business personal property tax for these aircraft. The bill also mandates a study on the feasibility of sharing revenue generated through air commerce with Vermont airports. This study will assess the state's capacity to identify and share sales and use tax revenue, property tax revenue, and the creation of dedicated funds for airports. The act will take effect on July 1, 2026.