Limits current law regarding sales and use tax exemptions to manufacturing machinery and equipment used primarily in technological research and development operations by the State’s four-year institutions of higher education. This act specifies exemption and reporting requirements. This act takes effect immediately and applies retroactively. (Companion: SB 5544).   Official Text and Analysis.

Adds an expiration date of July 1, 2016, to the stand-alone sales and use tax exemption for public research institutions.

To clarify that the sales and use tax exemption for machinery and equipment (M&E) does not apply if the M&E is used in connection with utility-related activities. Clarifies that the sales and use tax exemption for M&E does not apply to research and development activities of the state or its public institutions. Provides a stand-alone sales and use tax exemption for M&E used by public research institutions as part of a research and development operation.

Clarifies that the sales and use tax exemption for machinery and equipment (M&E) does not apply if the M&E is used in connection with utility-related activities. Clarifies that the sales and use tax exemption for M&E does not apply to research and development activities of the state or its public institutions. Provides a stand-alone sales and use tax exemption for M&E used by public research institutions as part of a research and development operation.

Clarifies that the sales and use tax exemption for machinery and equipment (M&E) does not apply if the M&E is used in connection with utility-related activities. Clarifies that the sales and use tax exemption for M&E does not apply to research and development activities of the state or its public institutions. Provides a stand-alone sales and use tax exemption for M&E used by public research institutions as part of a research and development operation.