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Finance committee adopts amendment and reports temporary sales-tax exemption for new nonprofits (HB 2305)
Summary
The House Finance Committee reported HB 2305 as amended, creating a two-year temporary sales-and-use tax exemption window for newly formed nonprofits to meet criteria under the Institutions of Purely Public Charity Act; the committee adopted an amendment delaying the effective date to Jan. 1, 2027 (or 90 days, whichever is later).
The House Finance Committee called up House Bill 2305 and, after adopting an amendment to revise its effective date, reported the bill to the full House. The bill creates a temporary sales-and-use tax exemption that would give newly established nonprofits two years to meet the statutory criteria under the Institutions of Purely Public…
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