Sales and use taxes: exclusion: pawnbrokers: transfer of vested property.

Summary

The bill changes the tax code so that when a pawnbroker gives back property that was pledged as loan security, the transaction is not counted as a taxable sale if certain conditions are met. The exemption, which was set to end in 2027, is now extended to Jan. 1, 2032, and the state will not reimburse counties or cities for any sales‑use tax they lose because of this change. It also requires the tax agency to track how often the exemption is used.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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