Plain English Breakdown
The official source material does not provide specific details on the financial impact of the bill or its applicability to non-residents.
Sales Tax Exemption for Utility Services
This bill removes sales tax on certain utility services like electricity, natural gas, water, and steam for both commercial and residential use.
What This Bill Does
- Provides a sales tax exemption for the sale or furnishing of electrical energy by a power subsidiary or public utility to individuals for commercial or domestic consumption.
- Exempts natural or artificial gas from sales tax when sold or furnished by a power subsidiary or public utility for commercial or domestic use.
- Eliminates sales tax on water provided by a power subsidiary or public utility for both commercial and residential customers.
- Makes steam and steam heating services exempt from sales tax when sold or furnished by a power subsidiary or public utility to individuals for commercial or domestic consumption.
Who It Names or Affects
- People who use electricity at home or work.
- Businesses that consume natural gas, water, steam, or steam heating service.
- Residents using utility services like water and natural gas in their homes.
Terms To Know
- Public Utility
- A company that provides essential services like electricity, water, and gas to the public.
- Sales Tax Exemption
- An exception from paying sales tax on certain goods or services.
Limits and Unknowns
- The bill does not specify how much money will be saved by consumers.
- It is unclear if this change affects only Indiana residents or includes businesses and visitors as well.