Outside Section 148
Data Current as of: 1/26/2010
The commissioner of revenue may adopt reasonable transition rules, by regulation or otherwise, including but not limited to the application of the sales and use tax rate increase authorized by this act to: (1) building materials and supplies to be used in construction, reconstruction, alteration, remodeling or repair of any building or structure pursuant to a contract entered into before the effective date of the rate increase or entered into within 60 days after said effective date pursuant to a bid required to be submitted before said date; (2) unconditional written contracts for the sale of tangible personal property subject to sales or use tax entered into before the effective date of the sales and use tax rate increase where such property is delivered not later than 90 days from said effective date; or (3) periodic bills for taxable services including periods before and after the effective date of the rate increase. For purposes of subsection (1), the sale or use must take place before January 1, 2011. For purposes of subsections (1) and (2), sale or use excludes the rental or lease of tangible personal property.