SB 5435-S - DIGEST

(AS OF SENATE 2ND READING 3/13/91)

      Defines "redeemable credits or deposits."

      Provides that gross proceeds of sales shall not include redeemable credits or deposits for the purposes of the business and occupation tax.

      Defines "value proceeding or accruing" for purposes of the act.

      Takes effect August 1, 1991.