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Committee introduces proposal to sunset IT equipment sales-tax exemption after seven years
Summary
RS 32440 would end an existing sales-tax exemption for information-technology equipment after seven years and direct the recovered revenue to the state tax-relief fund.
Representative Bruce, co-sponsoring RS 32440 with Representative Gannon, told the House Revenue and Taxation Committee on Feb. 24, 2025, that the request would sunset an existing sales-tax exemption for information-technology equipment after seven years.
"This RS 32440 essentially just takes the information technology equipment sales exemption that we have, and we sunset that exemption after 7 years of it being provided," Bruce said. The transcript indicates revenue that would be collected after the sunset is intended to be deposited into the state tax-relief fund administered by the State Tax Commission for distribution to citizens under existing tax-relief mechanisms.
Committee members moved to introduce RS 32440 for a hearing; the motion carried on a voice vote. The RS will be scheduled for a hearing where fiscal impacts and transition details will be provided to the committee.
Representative Gannon did not add remarks during the recorded presentation; Representative Raymond moved the motion to introduce RS 32440.
