HB4719: Advanced Air Mobility Tax Exemption Parity Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to make powered-lift aircraft eligible for certain exemptions from taxes on air transportation.
Plain-language summary
This bill would change federal tax law to let powered-lift aircraft qualify for the same tax breaks that other aircraft currently receive. Powered-lift aircraft are vehicles that can both hover like helicopters and fly forward like planes. The bill affects aircraft manufacturers and operators who use this newer technology. Currently these aircraft do not get the tax exemptions that traditional airplanes do. The bill was introduced in Congress but has not yet been assigned to a or voted on.
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HB4719: Advanced Air Mobility Tax Exemption Parity Act of 2023