§ 423.6

423.6 Exemptions. 14 C.F.R. ch. 1, pt. 135 . 15. a. Aircraft sold to an aircraft dealer who in turn rents or leases the aircraft if all of the following apply: (1) The aircraft is kept in the inventory of the dealer for sale at all times. (2) The dealer reserves the right to immediately take the aircraft from the renter or lessee when a buyer is found. (3) The renter or lessee is aware that the dealer will immediately take the aircraft when a buyer is found. b. If an aircraft exempt under this subsection is used for any purpose other than leasing or renting, or the conditions in paragraph 'a', subparagraphs (1), (2), and (3), are not continuously met, the dealer claiming the exemption under this subsection is liable for the tax that would have been due except for this subsection. The tax shall be computed upon the original purchase price. 16. The use in this state of building materials, supplies, or equipment, the sale or use of which is not treated as a retail sale or a sale at retail under section 423.2, subsection 1. 17. Tangible personal property exempt from the use tax as provided in section 29C.24. 18.

e sale or use of which is not treated as a retail sale or a sale at retail under section 423.2, subsection 1. 17. Tangible personal property exempt from the use tax as provided in section 29C.24. 18. Qualifying personal protective equipment and materials which are assembled to become qualifying personal protective equipment. For purposes of this subsection, 'qualifying personal protective equipment' means personal protective equipment that is assembled and donated by a person during the period beginning with a state of disaster emergency proclamation by the governor under section 29C.6 and ending one hundred eighty days after the expiration of such proclamation. 2003 Acts, 1st Ex, ch 2, §99, 205; 2006 Acts, ch 1158, §45, 46; 2008 Acts, ch 1113, §41, 42; 2008 Acts, ch 1191, §64; 2011 Acts, ch 25, §88; 2013 Acts, ch 30, §95; 2016 Acts, ch 1095, §9, 14; 2018 Acts, ch 1161, §200, 201, 229; 2020 Acts, ch 1118, §140 – 143 Referred to in §423C.3 Subsection 18 applies retroactively to January 1, 2020, for qualifying personal protective equipment and materials assembled and donated on or after that date; 2020 Acts, ch 1118, §143