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Tax exemptions for new vertical takeoff and landing aircraft

This act expands existing air transportation tax exemptions to include new types of aircraft capable of vertical takeoff and landing. This means that companies and individuals using these modern machines for purposes such as timber transport, mining, or as air ambulances will be eligible for lower taxes on these services. The goal is to support the development and use of advanced aviation technologies.
Key points
New vertical takeoff and landing aircraft (known as "powered-lift aircraft") will be eligible for tax exemptions previously only applicable to helicopters and fixed-wing aircraft.
These exemptions will cover air transportation used in mining, timber industries, and as air ambulances, potentially reducing operational costs in these sectors.
The act defines "powered-lift aircraft" as machines capable of vertical takeoff, vertical landing, and low-speed flight, primarily using engine-driven lift for ascent and non-rotating airfoils for horizontal flight.
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Additional Information
Print number: 118_HR_4719
Sponsor: Rep. Panetta, Jimmy [D-CA-19]
Process start date: 2023-07-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Advanced Air Mobility Tax Exemption Parity Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4719.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-07-18.

What are the main provisions?

Key points include:

  • New vertical takeoff and landing aircraft (known as "powered-lift aircraft") will be eligible for tax exemptions previously only applicable to helicopters and fixed-wing aircraft.
  • These exemptions will cover air transportation used in mining, timber industries, and as air ambulances, potentially reducing operational costs in these sectors.
  • The act defines "powered-lift aircraft" as machines capable of vertical takeoff, vertical landing, and low-speed flight, primarily using engine-driven lift for ascent and non-rotating airfoils for horizontal flight.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Panetta, Jimmy [D-CA-19].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Transport