Senate Bill 35, as amended by the Senate, would exempt certain gross receipts from sales and use
taxes. Rebates, buy downs, and credits would be exempt from the gross receipts.
During testimony presented to the Senate Committee on Taxation, it was estimated that Senate
Bill 35 could decrease the revenue to the state general fund some where in a range between
$200,000 and $500,000.
APPROVED BY:_______________________________________ DATE:____________