Taxation; to exempt certain community foundations from sales and use taxes

Summary

The bill creates a new tax code section that lists ten specific community foundations and removes their obligation to pay state sales and use taxes from September 1 2026 until August 31 2031. It also lets counties and municipalities choose to waive their own sales taxes for these foundations and requires each foundation to file an annual informational report with the Department of Revenue. The previous law granting the exemption is repealed.

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