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FISCAL NOTE
House Bill 253
Committee: Fiscal Responsibility and
Economic Development
Sponsor: Representative Brock Colvin
Analyst: Riley Aaron Date: 04/10/2025
House Bill 253 as reported by the Committee on Fiscal Responsibility and Economic
Development could decrease state sales, use, and lease tax receipts to the Education Trust Fund
or State General Fund by an undetermined amount from fiscal year 2026 to fiscal year 2030
dependent upon the amount of certain aircrafts and parts sold or leased, which proceeds would
be exempt pursuant to this bill.
In addition this bill could decrease:
1.state and local sales and use tax and lease tax receipts to the Education Trust Fund and the
State General Fund by an undetermined amount dependent upon the amount of certain
aviation aircrafts, machinery or equipment sold or leased, which proceeds would be exempt
pursuant to this bill and;
2.ad valorem tax receipts to the State General Fund, Public School Fund, Veteran's Assistance
Fund, and county and municipal funds by an undetermined amount dependent on the value
of the aircraft and the applicable state or local ad valorem tax, which would have otherwise
been levied.
This bill could also correspondingly decrease sales, use, and lease tax receipts to county and
municipal governments by an undetermined amount, if the respective local governments adopt
an exemption from taxation pursuant to this bill.