ASSEMBLY ACTION Initial and Date |SENATE ACTION Initial and Date
Adopted Lost | Adopted Lost
Concurred In Not
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Receded Not | Receded Not
Amend sec. 105, pages 60 and 61, by deleting lines 18 through 45 on page 60 and lines 1 through 4 on page 61 and inserting:
“Section1. The above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 762, is hereby amended by adding thereto three new sections to be designated as sections 18.2, 47.4 and 47.5, respectively, immediately following sections 18.1 and 47, respectively, to read as follows:
Sec. 18.2. “Vehicle” has the meaning ascribed to it in NRS 482.135.
Sec. 47.4. 1. For the purposes of this section, “authorized appraisal” means an appraisal of the value of a motor vehicle made by:
(a) An employee of the Department of Motor Vehicles on its behalf;
(b) A county assessor or his employee as an agent of the Department of Motor Vehicles;
(c) A person licensed by the Department of Motor Vehicles as a dealer; or
(d) An independent appraiser authorized by the Department of Motor Vehicles.
2. When computing the tax on the sale of a vehicle by a seller who is not required to be registered by the Department of Taxation, the Department of Motor Vehicles or the county assessor as an agent of the Department of Taxation shall, if an authorized appraisal is submitted, use as the vehicle’s sales price the amount stated on the authorized appraisal or $100, whichever is greater.
3. The Department of Motor Vehicles shall establish by regulation the procedure for appraising vehicles and shall establish and make available a form for an authorized appraisal.
4. The Department of Motor Vehicles shall retain a copy of the appraisal considered pursuant to subsection 2 with its record of the collection of the tax.
5. A fee which does not exceed $10 may be charged and collected for each authorized appraisal made. Any money so collected by the Department of Motor Vehicles for such an appraisal made by its employees must be deposited with the State Treasurer to the credit of the Motor Vehicle Fund. Any money so collected by a county assessor must be deposited with the county treasurer to the credit of the county’s general fund.
6. If an authorized appraisal is not submitted, the Department of Motor Vehicles or the county assessor as an agent of the Department of Taxation shall establish the sales price as a value which is based on the depreciated value of the vehicle as determined in accordance with the schedule in section 47.5 of chapter 397, Statutes of Nevada 1955. To determine the original price from which the depreciation is calculated, the Department of Motor Vehicles shall use:
(a) The manufacturer’s suggested retail price in Nevada, excluding options and extras, as of the time the particular make and year model is first offered for sale in Nevada;
(b) If the vehicle is specially constructed, the original retail price to the original purchaser of the vehicle as evidenced by such document or documents as the Department may require;
(c) The procedures set forth in subsections 3 and 4 of NRS 371.050; or
(d) If none of these applies, its own estimate from any available information.
Sec. 47.5. 1. Except as otherwise provided in subsection 2, for the purpose of computing the tax on the sale of a vehicle by a seller who is not required to be registered with the Department of Taxation in the manner provided for in subsection 6 of section 47.4 of chapter 397, Statutes of Nevada 1955, a vehicle must be depreciated according to the following schedule:
Percentage of
Age Initial Value
New ................................................................................................. 100 percent
1 year ................................................................................................... 85 percent
2 years ................................................................................................... 75 percent
3 years ................................................................................................... 65 percent
4 years ................................................................................................... 60 percent
5 years ................................................................................................... 55 percent
6 years ................................................................................................... 50 percent
7 years ................................................................................................... 45 percent
8 years ................................................................................................... 40 percent
9 years ................................................................................................... 35 percent
10 years ................................................................................................... 30 percent
11 years ................................................................................................... 25 percent
12 years ................................................................................................... 20 percent
13 years ................................................................................................... 15 percent
14 years or more................................................................................................ 10 percent
2. The amount of depreciation calculated under subsection 1 must be rounded to the nearest whole multiple of $20 and the depreciated value must not be reduced below $100.
Sec. 2. Section 11 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 764, is hereby amended to read as follows:
Sec. 11. 1. “Sales price” means the total amount for which tangible property is sold, valued in money, whether paid in money or otherwise, without any deduction on account of any of the following:
(a) The cost of the property sold.
(b) The cost of materials used, labor or service cost, interest charged, losses, or any other expenses.
(c) The cost of transportation of the property prior to its purchase.
2. The total amount for which property is sold includes all of the following:
(a) Any services that are a part of the sale.
(b) Any amount for which credit is given to the purchaser by the seller.
3. “Sales price” does not include any of the following:
(a) Cash discounts allowed and taken on sales.
(b) The amount charged for property returned by customers when the entire amount charged therefor is refunded either in cash or credit; but this exclusion shall not apply in any instance when the customer, in order to obtain the refund, is required to purchase other property at a price greater than the amount charged for the property that is returned.
(c) The amount charged for labor or services rendered in installing or applying the property sold.
(d) The amount of any tax , [(]not including[, however,] any manufacturers’ or importers’ excise tax , [)] imposed by the United States upon or with respect to retail sales, whether imposed upon the retailer or the consumer.
(e) The amount of any allowance against the selling price given by a retailer for the value of a used vehicle that is taken in trade on the purchase of another vehicle.
4. For the purpose of a sale of a vehicle by a seller who is not required to be registered with the Department of Taxation, the sales price is the value established in the manner set forth in section 47.4 of chapter 397, Statutes of Nevada 1955.
Sec. 3. Section 12 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 764, is hereby amended to read as follows:
Sec. 12. 1. “Gross receipts” means the total amount of the sale or lease or rental price, as the case may be, of the retail sales of retailers, valued in money, whether received in money or otherwise, without any deduction on account of any of the following:
(a) The cost of the property sold. However, in accordance with such rules and regulations as the Tax Commission may prescribe, a deduction may be taken if the retailer has purchased property for some other purpose than resale, has reimbursed his vendor for tax which the vendor is required to pay to the State or has paid the use tax with respect to the property, and has resold the property [prior to] before making any use of the property other than retention, demonstration or display while holding it for sale in the regular course of business. If such a deduction is taken by the retailer, no refund or credit will be allowed to his vendor with respect to the sale of the property.
(b) The cost of the materials used, labor or service cost, interest paid, losses or any other expense.
(c) The cost of transportation of the property [prior to] before its sale to the purchaser.
2. The total amount of the sale or lease or rental price includes all of the following:
(a) Any services that are a part of the sale.
(b) All receipts, cash, credits and property of any kind.
(c) Any amount for which credit is allowed by the seller to the purchaser.
3. “Gross receipts” does not include any of the following:
(a) Cash discounts allowed and taken on sales.
(b) [Sale] The sale price of property returned by customers when the full sale price is refunded either in cash or credit , [;] but this exclusion [shall] does not apply in any instance when the customer, in order to obtain the refund, is required to purchase other property at a price greater than the amount charged for the property that is returned.
(c) The price received for labor or services used in installing or applying the property sold.
(d) The amount of any tax , [(]not including[, however,] any manufacturers’ or importers’ excise tax , [)] imposed by the United States upon or with respect to retail sales, whether imposed upon the retailer or the consumer.
(e) The amount of any allowance against the selling price given by a retailer for the value of a used vehicle which is taken in trade on the purchase of another vehicle.
4. For purposes of the sales tax, if the retailers establish to the satisfaction of the Tax Commission that the sales tax has been added to the total amount of the sale price and has not been absorbed by them, the total amount of the sale price shall be deemed to be the amount received exclusive of the tax imposed.
Sec. 4. Section 15 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 765, is hereby amended to read as follows:
Sec. 15. 1. “Retailer” includes:
(a) Every seller who makes any retail sale or sales of tangible personal property, and every person engaged in the business of making retail sales at auction of tangible personal property owned by the person or others.
(b) Every person engaged in the business of making sales for storage, use or other consumption or in the business of making sales at auction of tangible personal property owned by the person or others for storage, use or other consumption.
(c) Every person making any retail sale of a vehicle or more than two retail sales of other tangible personal property during any 12‑month period, including sales made in the capacity of assignee for the benefit of creditors, or receiver or trustee in bankruptcy.
2. When the Tax Commission determines that it is necessary for the efficient administration of this chapter to regard any salesmen, representatives, peddlers or canvassers as the agents of the dealers, distributors, supervisors or employers under whom they operate or from whom they obtain the tangible personal property sold by them, irrespective of whether they are making sales on their own behalf or on behalf of such dealers, distributors, supervisors or employers, the Tax Commission may so regard them and may regard the dealers, distributors, supervisors or employers as retailers for purposes of this chapter.
[3. A licensed optometrist or physician and surgeon is a consumer of, and shall not be considered, a retailer within the provisions of this chapter, with respect to the ophthalmic materials used or furnished by him in the performance of his professional services in the diagnosis, treatment or correction of conditions of the human eye, including the adaptation of lenses or frames for the aid thereof.]
Sec. 5. Section 18.1 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 766, is hereby amended to read as follows:
Sec. 18.1 NRS 372.035 is hereby amended to read as follows:
372.035 1. “Occasional sale” includes:
(a) A sale of property not held or used by a seller in the course of an activity for which he is required to hold a seller’s permit, [provided such] if the sale is not one of a series of sales sufficient in number, scope and character to constitute an activity requiring the holding of a seller’s permit.
(b) Any transfer of all or substantially all the property held or used by a person in the course of such an activity when after [such] the transfer the real or ultimate ownership of [such] the property is substantially similar to that which existed before [such] the transfer.
2. The term does not include the sale of a vehicle other than the sale or transfer of a used vehicle to the seller’s spouse, child, grandchild, parent, grandparent, brother or sister. For the purposes of this section, the relation of parent and child includes adoptive and illegitimate children and stepchildren.
3. For the purposes of this section, stockholders, bondholders, partners or other persons holding an interest in a corporation or other entity are regarded as having the “real or ultimate ownership” of the property of such corporation or other entity.
Sec.6. Section 56.1 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, as added by chapter 306, Statutes of Nevada 1969, at page 532, and amended by chapter 627, Statutes of Nevada 1985, at page 2028, and amended by chapter 404, Statutes of Nevada 1995, at page 1007, is hereby amended to read as follows:
Sec. 56.1. 1. There are exempted from the taxes imposed by this act the gross receipts from sales and the storage, use or other consumption of:
(a) Prosthetic devices, orthotic appliances and ambulatory casts for human use, and other supports and casts if prescribed or applied by a licensed provider of health care, within his scope of practice, for human use.
(b) Appliances and supplies relating to an ostomy.
(c) Products for hemodialysis.
(d) Any ophthalmic or ocular device or appliance prescribed by a physician or optometrist.
(e) Medicines:
(1) Prescribed for the treatment of a human being by a person authorized to prescribe medicines, and dispensed on a prescription filled by a registered pharmacist in accordance with law;
(2) Furnished by a licensed physician, dentist or podiatric physician to his own patient for the treatment of the patient;
(3) Furnished by a hospital for treatment of any person pursuant to the order of a licensed physician, dentist or podiatric physician; or
(4) Sold to a licensed physician, dentist, podiatric physician or hospital for the treatment of a human being.
2. As used in this section:
(a) “Medicine” means any substance or preparation intended for use by external or internal application to the human body in the diagnosis, cure, mitigation, treatment or prevention of disease or affliction of the human body and which is commonly recognized as a substance or preparation intended for such use. The term includes splints, bandages, pads, compresses and dressings.
(b) “Medicine” does not include:
(1) Any auditory [, ophthalmic or ocular] device or appliance.
(2) Articles which are in the nature of instruments, crutches, canes, devices or other mechanical, electronic, optical or physical equipment.
(3) Any alcoholic beverage, except where the alcohol merely provides a solution in the ordinary preparation of a medicine.
(4) Braces or supports, other than those prescribed or applied by a licensed provider of health care, within his scope of practice, for human use.
3. Insulin furnished by a registered pharmacist to a person for treatment of diabetes as directed by a physician shall be deemed to be dispensed on a prescription within the meaning of this section.
Sec.7. The above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 762, is hereby amended by adding thereto a new section to be designated as section 56.3, immediately following section 56.2, to read as follows:
Sec. 56.3. 1. There are exempted from the taxes imposed by this Act the gross receipts from the sale of, and the storage, use or other consumption in a county of, farm machinery and equipment employed for the agricultural use of real property.
2. As used in this section:
(a) “Agricultural use” has the meaning ascribed to it in NRS 361A.030.
(b) “Farm machinery and equipment” means a farm tractor, implement of husbandry, piece of equipment used for irrigation, or a part used in the repair or maintenance of farm machinery and equipment. The term does not include:
(1) A vehicle required to be registered pursuant to the provisions of chapter 482 or 706 of NRS; or
(2) Machinery or equipment only incidentally employed for the agricultural use of real property.
(c) “Farm tractor” means a motor vehicle designed and used primarily for drawing an implement of husbandry.
(d) “Implement of husbandry” means a vehicle that is designed, adapted or used for agricultural purposes, including, without limitation, a plow, machine for mowing, hay baler, combine, piece of equipment used to stack hay, till, harvest, handle agricultural commodities or apply fertilizers, or other heavy, movable equipment designed, adapted or used for agricultural purposes.
Sec.8. The above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 762, is hereby amended by adding thereto two new sections to be designated as sections 57.1 and 57.2, respectively, immediately following section 57, to read as follows:
Sec. 57.1. 1. Except as otherwise provided in section 57.2 of chapter 397, Statutes of Nevada 1955, there are exempted from the taxes imposed by this chapter the gross receipts from the sale of, and the storage, use or other consumption of, works of fine art for public display.
2. In determining whether a payment made pursuant to a lease of a work of fine art is exempt under subsection 1, the value for the purpose of paragraph (a) of subsection 4 is the value of the work and not the value of possession for the term of the lease, and the calendar or fiscal year described in paragraph (a) of subsection 4 is the first full calendar or fiscal year, respectively, after the payment is made.
3. During the first full fiscal year following the purchase of fine art for which a taxpayer receives the exemption provided in this section, the taxpayer shall make available, upon written request and without charge to any public school as defined in NRS 385.007, private school as defined in NRS 394.103 and parent of a child who receives instruction in a home pursuant to NRS 392.070, one copy of a poster depicting the fine art that the facility has on public display and that the facility makes available for purchase by the public at the time of the request.
4. As used in this section:
(a) “Fine art for public display”:
(1) Except as otherwise provided in subparagraph (2), means a work of art which:
(I) Is an original painting in oil, mineral, water colors, vitreous enamel, pastel or other medium, an original mosaic, drawing or sketch, an original sculpture of clay, textiles, fiber, wood, metal, plastic, glass or a similar material, an original work of mixed media or a lithograph;
(II) Is purchased in an arm’s length transaction for $25,000 or more, or has an appraised value of $25,000 or more;
(III) Will be on public display in a public or private art gallery, museum or other building or area in this state for at least 20 hours per week during at least 35 weeks of the first full calendar year after the date on which it is purchased or, if the facility displaying the fine art disposes of it before the end of that year, during at least two-thirds of the full weeks during which the facility had possession of it, or if the gallery, museum, or other building or area in which the fine art will be displayed will not be opened until after the beginning of the first full calendar year after the date on which the fine art is purchased, these display requirements must instead be met for the first full fiscal year after the date of opening, and the date of opening must not be later than 2 years after the purchase of the fine art being displayed; and
(IV) Will be on display in a facility that is available for group tours by pupils or students for at least 5 hours on at least 60 days of the first full fiscal year after the purchase of the fine art, during which the facility in which it is displayed is open, by prior appointment and at reasonable times, without charge; and
(2) Does not include:
(I) A work of fine art that is a fixture or an improvement to real property;
(II) Materials purchased by an artist for consumption in the production of a work of art that is to be a fixture or an improvement to real property;
(III) A work of fine art that constitutes a copy of an original work of fine art, unless the work is a lithograph that is a limited edition and that is signed and numbered by the artist;
(IV) Products of filmmaking or photography, including, without limitation, motion pictures;
(V) Literary works;
(VI) Property used in the performing arts, including, without limitation, scenery or props for a stage; or
(VII) Property that was created for a functional use other than, or in addition to, its aesthetic qualities, including, without limitation, a classic or custom-built automobile or boat, a sign that advertises a business, and custom or antique furniture, lamps, chandeliers, jewelry, mirrors, doors or windows.
(b) “Public display” means the display of a work of fine art where members of the public have access to the work of fine art for viewing during publicly advertised hours. The term does not include the display of a work of fine art in an area where the public does not generally have access, including, without limitation, a private office, hallway or meeting room of a business, a room of a business used for private lodging and a private residence.
(c) “Pupil” means a person who:
(1) Is enrolled for the current academic year in a public school as defined in NRS 385.007 or a private school as defined in NRS 394.103; or
(2) Receives instruction in a home and is excused from compulsory attendance pursuant to NRS 392.070.
(d) “Student” means a person who is enrolled for the current academic year in:
(1) A community college or university; or
(2) A licensed postsecondary educational institution as defined in NRS 394.099 and a course concerning fine art.
Sec. 57.2. 1. A taxpayer may collect an admission fee for the exhibition of fine art otherwise exempt from taxation on its sale, storage, use or other consumption pursuant to section 57.1 of chapter 397, Statutes of Nevada 1955, if the taxpayer offers to residents of the State of Nevada a discount of 50 percent from any admission fee charged to nonresidents. The discounted admission fee for residents must be offered at any time the exhibition is open to the public and admission fees are being charged.
2. If a taxpayer collects a fee for the exhibition of fine art otherwise exempt from taxation on its sale, storage, use or other consumption pursuant to section 57.1 of chapter 397, Statutes of Nevada 1955, and the fee is collected during the first full fiscal year after the purchase of the fine art, the exemption pertaining to that fine art must be reduced by the net revenue derived by the taxpayer for that first full fiscal year. The exemption pertaining to fine art must not be reduced below zero, regardless of the amount of the net revenue derived by the taxpayer for that first full fiscal year.
3. Any tax due pursuant to this section must be paid with the first sales and use tax return otherwise required to be filed by the taxpayer following the 15th day of the fourth month after the end of the first full fiscal year following the purchase of the fine art or, if no sales and use tax return is otherwise required to be filed by the taxpayer, with a sales and use tax return filed specifically for this purpose on or before the last day of the fourth month after the end of the first full fiscal year following the purchase of the fine art.
4. A taxpayer who is required to pay a tax resulting from the operation of this section may receive a credit against the tax for any donations made by the taxpayer to the Nevada Arts Council, the Division of Museums and History Dedicated Trust Fund established pursuant to NRS 381.0031, a museum that provides exhibits specifically related to nature or a museum that provides exhibits specifically related to children, if the taxpayer:
(a) Made the donation before the date that either return required pursuant to subsection 3 is due; and
(b) Provides to the Department documentation of the donation at the time that he files the return required pursuant to subsection 3.
5. For the purposes of this section:
(a) “Direct costs of owning and exhibiting the fine art” does not include any allocation of the general and administrative expense of a business or organization that conducts activities in addition to the operation of the facility in which the fine art is displayed, including, without limitation, an allocation of the salary and benefits of a senior executive who is responsible for the oversight of the facility in which the fine art is displayed and who has substantial responsibilities related to the other activities of the business or organization.
(b) “Net revenue” means the amount of the fees collected for exhibiting the fine art during the fiscal year less the following paid or made during the fiscal year:
(1) The direct costs of owning and exhibiting the fine art; and
(2) The cost of educational programs associated with the taxpayer’s public display of fine art, including the cost of meeting the requirements of sub-subparagraph (IV) of subparagraph (1) of paragraph (a) of subsection 4 of section 57.1 of chapter 397, Statutes of Nevada 1955.
Sec. 9. Section 6 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 763, is hereby amended to read as follows:
Sec. 6. 1. “Retail sale” or “sale at retail” means a sale for any purpose other than resale in the regular course of business of tangible personal property. The terms do not include a sale of property that:
(a) Meets the requirements of subparagraphs (1) and (2) of paragraph (a) of subsection 4 of section 57.1 of chapter 397, Statutes of Nevada 1955;
(b) Is made available for sale within 2 years after it is acquired; and
(c) Is made available for viewing by the public or prospective purchasers, or both, within 2 years after it is acquired, whether or not a fee is charged for viewing it and whether or not it is also used for purposes other than viewing.
2. The delivery in this state of tangible personal property by an owner or former owner thereof or by a factor, or agent of such owner, former owner or factor, if the delivery is to a consumer or person for redelivery to a consumer, pursuant to a retail sale made by a retailer not engaged in business in this state, is a retail sale in this state by the person making the delivery. He shall include the retail selling price of the property in his gross receipts.
Sec. 10. Section 7 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 763, is hereby amended to read as follows:
Sec. 7. “Storage” includes any keeping or retention in this state for any purpose except sale in the regular course of business or subsequent use solely outside this state of tangible personal property purchased from a retailer. The term does not include keeping, retaining or exercising any right or power over tangible property that:
1. Meets the requirements of subparagraphs (1) and (2) of paragraph (a) of subsection 4 of section 57.1 of chapter 397, Statutes of Nevada 1955;
2. Is made available for sale within 2 years after it is acquired; and
3. Is made available for viewing by the public or prospective purchasers, or both, within 2 years after it is acquired whether or not a fee is charged for viewing it and whether or not it is also used for purposes other than viewing.
Sec.11. Section 61.5 of the above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 762, as added by chapter 466, Statutes of Nevada 1985, at page 1441, is hereby amended to read as follows:
Sec. 61.5. There are exempted from the taxes imposed by this chapter the gross receipts from the sale [of aircraft and major components] and the storage, use or other consumption in this state of:
1. Aircraft, aircraft engines and component parts of aircraft [, such as engines and other components made for use only in aircraft, to an air carrier which:
1. Holds a certificate to engage in air transportation issued pursuant to 49 U.S.C. § 1371 and is not solely a charter air carrier or a supplemental air carrier as described in Title 49 of the United States Code; and
2. Maintains its central office in Nevada and bases a majority of its aircraft in Nevada.] or aircraft engines which are manufactured exclusively for use in aircraft, sold or purchased for lease to a commercial air carrier for use in the transportation of persons or property in intrastate, interstate or foreign commerce pursuant to a certificate or license issued to the air carrier authorizing such transportation; and
2. Machinery, tools and other equipment and parts which are used exclusively in the repair, remodeling or maintenance of aircraft, aircraft engines or component parts of aircraft or aircraft engines which meet the requirements of subsection 1.
Sec.12. The above-entitled Act, being chapter 397, Statutes of Nevada 1955, at page 762, is hereby amended by adding thereto a new section to be designated as section 61.6, immediately following section 61.5, to read as follows:
Sec. 61.6. 1. There are exempted from the taxes imposed by this chapter the gross receipts from the sale, furnishing or service of, and the storage, use or other consumption in this state of:
(a) All engines and chassis of a professional racing vehicle;
(b) All parts and components that are used to replace or rebuild existing parts or components of any engine or chassis of a professional racing vehicle;
(c) All motor vehicles used by professional racing teams to transport professional racing vehicles or to transport parts or components of professional racing vehicles, including, without limitation, an engine and chassis of a professional racing vehicle; and
(d) All motor vehicles used by a professional racing team or sanctioning body to transport the business office of the professional racing team or sanctioning body or to transport a facility from which hospitality services are provided.
2. As used in this section:
(a) “Professional racing team” means a racing operation that qualifies for the taxable year as an activity engaged in for profit pursuant to the Internal Revenue Code, Title 26 of the United States Code.
(b) “Professional racing motor vehicle” means any motor vehicle which is used in a professional racing competition and which is owned, leased or operated by a professional racing team.
(c) “Sanctioning body” means an organization that establishes an annual schedule of professional racing events in which professional racing teams participate, grants rights to conduct such events and establishes and administers rules and regulations governing the persons who conduct or participate in such events.
Sec. 13. This act becomes effective on January 1, 2006.”.
Amend sec. 106, page 61, by deleting lines 8 through 12 and inserting:
“Shall the Sales and Use Tax Act of 1955 be amended to:
1. Provide an exemption from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of the value of any used vehicle taken in trade on the purchase of another vehicle and to remove the exemption from those taxes for occasional sales of vehicles except where such sales are between certain family members;
2. Provide an exemption from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of ophthalmic or ocular devices or appliances prescribed by a physician or optometrist;
3. Provide an exemption from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of farm machinery and equipment employed for the agricultural use of real property;
4. Provide an exemption from the taxes imposed by this Act on the gross receipts from the sale and the storage, use or other consumption of works of fine art for public display;
5. Revise and clarify the criteria used to determine which aircraft and parts of aircraft are exempt from the taxes imposed by this Act, including removing the requirement that an air carrier must be based in Nevada to be eligible for the exemption, and providing an exemption for certain machinery and equipment used on eligible aircraft and parts of aircraft; and
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6. Provide an exemption from the taxes imposed
by this Act on the gross receipts from the sale and the storage, use or other
consumption of engines and chassis, including replacement parts and components
for the engines and chassis, of professional racing vehicles that are owned,
leased or operated by professional racing teams?”.
Amend sec. 107, page 61, by deleting lines 21 through 24 and inserting:
“1955 would:
1. Exempt from the taxes imposed by this Act the gross receipts from the sale and the storage, use or other consumption of the value of any used vehicle taken in trade on the purchase of another vehicle and remove the exemption from those taxes for occasional sales of vehicles except where such sales are between certain family members;
2. Exempt from the taxes imposed by this Act the gross receipts from the sale and the storage, use or other consumption of ophthalmic or ocular devices or appliances prescribed by a physician or optometrist;
3. Exempt from the taxes imposed by this Act the gross receipts from the sale and the storage, use or other consumption of farm machinery and equipment employed for the agricultural use of real property;
4. Exempt from the taxes imposed by this Act the gross receipts from the sale and the storage, use or other consumption of works of fine art for public display;
5. Revise and clarify the criteria used to determine which aircraft and parts of aircraft are exempt from the taxes imposed by this Act, including removing the requirement that an air carrier must be based in Nevada to be eligible for the exemption, and providing an exemption for certain machinery and equipment used on eligible aircraft and parts of aircraft; and
6. Exempt from the taxes imposed by this Act the gross receipts from the sale and the storage, use or other consumption of engines and chassis, including replacement parts and components for the engines and chassis, of professional racing vehicles that are owned, leased or operated by professional racing teams.
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A “yes” vote approves all of the proposals set forth in the
question. A “no” vote disapproves all of the proposals set forth in the
question. The proposals set forth in the question may not be voted upon
individually.”.
Amend the bill as a whole by deleting sections 108 through 132 and inserting:
“Secs. 108-132. (Deleted by amendment.)”.
Amend sec. 133, page 81, by deleting lines 15 through 19 and inserting:
“is yes, the amendment to the Sales and Use Tax Act of 1955 becomes effective on January 1, 2006. If less than a majority of votes cast on the question is yes, the question fails and the amendment to the Sales and Use Tax Act of 1955 does not”.
Amend sec. 135, page 81, line 27, by deleting “any proposed” and inserting “the”.
Amend sec. 135, page 81, line 29, by deleting “office” and inserting “Office”.
Amend sec. 138, page 82, by deleting lines 28 through 33 and inserting:
“Sec. 138. NRS 374.107, 374.112, 374.113, 374.286, 374.291, 374.2911, 374.322 and 374.323 are hereby repealed.”.
Amend sec. 139, page 83, by deleting lines 1 through 34 and inserting:
“4. Sections 30 and 39 of this act become effective on January 1, 2006, only if the proposal submitted pursuant to sections 103 to 107, inclusive, of this act is approved by the voters at the general election on November 2, 2004.
5. Sections 31, 51, 58 to 65, inclusive, 68, 73, 81, 82, 86, 93 and 138 of this act become effective on January 1, 2006, only if the proposal submitted pursuant to sections 103 to 107, inclusive, of this act is not approved by the”.
Amend the title of the bill, ninth line, by deleting “questions” and inserting “a question”.