An act relating to tax exemptions for noncommercial aircraft and revenue sharing with airports

This bill adds noncommercial aircraft (like private planes used for personal travel) to Vermont's existing sales and use tax exemption currently available to commercial aircraft. It also creates a new business personal property tax for noncommercial aircraft owners, while requiring a study on sharing tax revenue generated from air commerce with Vermont airports. The study, due by December 2026, will assess how to identify and distribute sales/use tax and property tax revenue from airports and air commerce operations. The tax changes and study will take effect on July 1, 2026.