S. 2501 · 114th Congress
Small Aircraft Tax Modification Act of 2015
- Stage
- In committee
- Sponsor
- Lisa Murkowski
- Introduced
- 2016-02-04
- Latest action
- 2016-02-04 · Introduced in Senate
Summary
Small Aircraft Tax Modification Act of 2015 [sic]
This bill amends the Internal Revenue Code to expand eligibility for the exemption from the excise tax on the transportation of persons and property by air by: (1) increasing the limit on the maximum certified takeoff weight of eligible aircraft not operated on an established line from 6,000 pounds or less to 12,500 pounds or less; and (2) providing that an aircraft shall not be considered as operated on an established line if it is performing an on-demand operation, as defined by regulation.