67-6-302 - Aircraft parts and supplies Property leased by airport authority. - Tennessee Statutes

67-6-302. Aircraft parts and supplies Property leased by airport authority.

(a)  There is exempt from sales or use tax, the sale, use, storage or consumption of aircraft owned or leased by commercial interstate or international air carriers, and parts, accessories, materials and supplies sold to or used by commercial interstate or international air carriers for use exclusively in servicing and maintaining such carriers' aircraft, which aircraft are used principally in interstate or international commerce. This exemption shall not apply to fuel and other petroleum products or to shop equipment and tools.

(b)  There is exempt from the tax imposed by this chapter the gross proceeds of and payments on all leases and rentals of tangible personal property owned by an airport authority or authority, as defined in § 42-3-102(3) or § 42-4-103(2), respectively, to a business primarily engaged in the repair of aircraft owned or leased by commercial interstate or international air carriers; provided, that this exemption shall apply only with respect to tangible personal property primarily used by such businesses at an airport as defined in § 42-3-102(2) or § 42-4-103(1). This exemption only applies to leases by an airport authority or authority and not to subleases by a lessee.

[Acts 1947, ch. 3, § 6; 1949, ch. 245, § 2; C. Supp. 1950, § 1248.61 (Williams, § 1328.27); Acts 1955, ch. 51, § 6; 1955, ch. 194, § 1; 1955, ch. 340, §§ 1, 2; 1961, ch. 248, § 1; 1963, ch. 38, § 4; 1963, ch. 112, § 1; 1963, ch. 137, § 1; 1963, ch. 268, § 1; 1965, ch. 32, § 1; 1965, ch. 164, § 1; 1967, ch. 98, § 1; 1969, ch. 2, § 1; 1971 ch. 39, § 1; 1971, ch. 113, § 1; 1971, ch. 258, § 1; 1973, ch. 173, § 1; 1976, ch. 466, § 2; 1976, ch. 524, § 1; 1976, ch. 689, § 1; 1976, ch. 711, § 1; 1976, ch. 733, § 1; 1977, ch. 79, § 1; 1977, ch. 150, § 1; 1977, ch. 268, § 1; 1977, ch. 487, § 1; 1978, ch. 732, § 1; 1978, ch. 733, § 1; impl. am. Acts 1978, ch. 761, § 116; Acts 1978, ch. 793, § 1; 1978, ch. 831, § 1; 1978, ch. 832, § 1; 1978, ch. 921, § 4; 1979, ch. 191, § 1; 1979, ch. 239, § 1; 1979, ch. 330, § 1; 1979, ch. 338, § 1; 1979, ch. 349, § 1; 1979, ch. 387, § 1; 1979, ch. 391, §§ 1, 2; 1980, ch. 613, § 1; 1980, ch. 748, § 1; 1980, ch. 863, § 1; 1981, ch. 70, § 1; 1981, ch. 133, § 1; 1981, ch. 273, § 1; 1982, ch. 576, § 1; 1982, ch. 634, § 1; 1983, ch. 102, § 3; 1983, ch. 140, § 1; 1983, ch. 162, § 2; T.C.A. (orig. ed.), § 67-3012; Acts 1989, ch. 408, § 1; 1994, ch. 873, § 1.]