AB403
AN ACT relating to taxes on retail sales; providing for the submission to the voters of the question of whether the Sales and Use Tax Act of 1955 should be amended to exempt from the taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic under certain circumstances; providing for the same exemption from certain analogous taxes if the voters approve this amendment to the Sales and Use Tax Act of 1955; and providing other matters properly relating thereto. Close title AN ACT relating to taxes on retail sales; providing for the submission to the voters of the question of whether the Sales and Use Tax Act of 1955 should be amended to exempt from the taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic under certain circumstances; providing for the same exemption from certain analogous taxes if the voters approve this amendment to the Sales and Use Tax Act of 1955; and providing other matters properly relating thereto.
Introduction Date
Tuesday, March 11, 2025
Primary Sponsor
View 1 Primary Sponsors Close Primary Sponsors Assemblymembe
Public exhibits
2
Support 1 · Opp 0 · Neutral 0
Auditor findings
0
recusal 0 · QPQ 0
AN ACT relating to taxes on retail sales; providing for the submission to the voters of the question of whether the Sale
The nonadministrative provisions of the Sales and Use Tax Act of 1955 (part of chapter 372 of NRS) were approved by the voters by a referendum and therefore may not be amended, annulled, repealed, set aside, suspended or in any way made inoperative except by the direct vote of the people. (Nev. Const. Art. 19, § 1) Sections 2-9 of this bill require the submission of a question to the voters at the 2026 General Election of whether the Sales and Use Tax Act of 1955 should be amended to provide an exemption for the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic, if the amount of the allowance is known and provided in full to the customer at the time of purchase and stated on the sales receipt and the trade-in and purchase occur as part of a single, contemporaneous transaction. Sections 10-13 of this bill amend the Local School Support Tax Law (chapter 374 of NRS) to provide an identical exemption. These tax exemptions become effective on January 1, 2027, and expire by limitation on December 31, 2050, only if the voters approve the amendment to the Sales and Use Tax Act of 1955 at the General Election in 2026. Any amendment to the Local School Support Tax Law also applies to other sales and use taxes imposed under existing law. (NRS 354.705, 374A.020, 376A.060, 377.040, 377A.030, 377B.110, 543.600 and various special and local acts) Therefore, if t
NELIS exhibits (2 on file)
Support (1)
- Jesse Wadhams — Attorney, Black & Wadhams (Statement)
Bill text + amendments: view on NELIS →