Amends TCA Title 67, Chapter 6, Part 3.
This bill exempts from sales and use tax the following emergency preparedness products sold directly to a consumer for residential use:<br /> <br /> (1) Prefabricated underground or above-ground storm shelters; and<br /> <br /> (2) Standby generators that are powered by natural gas or liquid propane that automatically engage to deliver backup electrical power to a residence during a power outage.<br /> <br /> The exemptions will include any tax levied on the installation of the emergency preparedness product and apply only to the first $10,000 of the sale price of the product, including installation services. The tax exemptions will apply to sales of eligible products made between July 1, 2021, and June 30, 2022.<br />
This bill exempts from sales and use tax the following emergency preparedness products sold directly to a consumer for residential use:<br /> <br /> (1) Prefabricated underground or above-ground storm shelters; and<br /> <br /> (2) Standby generators that are powered by natural gas or liquid propane that automatically engage to deliver backup electrical power to a residence during a power outage.<br /> <br /> The exemptions will include any tax levied on the installation of the emergency preparedness product and apply only to the first $10,000 of the sale price of the product, including installation services. The tax exemptions will apply to sales of eligible products made between July 1, 2021, and June 30, 2022.<br />
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Bailey, Paul
112th General Assembly
February 11, 2021
May 3, 2021
Assigned to General Subcommittee of Senate Finance, Ways, and Means Committee