SB 484

Current law provides a sales and use tax exemption for five or fewer auctions

for the sale of personal farm property or household goods that are held by the same

auctioneer at the same location during the year. This bill provides that the

exemption applies to five or fever auction events that are the sale of such property

or goods held by the same auctioneer at the same location during the year. Under

the bill, an auction event is the total number of consecutive days for which property

at that location is available for bidding, except that, with respect to an auction for

which all or some of the bids may be submitted over the Internet, an auction event

is the total number of consecutive days that winning bids are selected, not to exceed

five days, regardless of whether the property being sold is at multiple locations.

Because this bill relates to an exemption from state or local taxes, it may be

referred to the Joint Survey Committee on Tax Exemptions for a report to be printed

as an appendix to the bill.