|
being dispatched to a specific location at which it will be loaded |
| upon arrival with, or will be used as motive power for the carrying |
| of, a payload in interstate or foreign commerce. For purposes of |
| this subsection, "bona fide payload" means a cargo of persons or |
| property transported by a contract or common carrier for |
compensation which |
| cargo or pursuant to a legal obligation to provide service as a |
| public utility or a cargo of property transported in the reasonable |
| conduct of the purchaser's own nontransportation business in |
| interstate commerce. For purposes of the requirement under this |
| subsection that a watercraft be placed in use by the purchaser as |
| an instrumentality of interstate or foreign commerce within 30 days |
| after its sale and not less than 80% of the time for the next 2 |
| years, the 30-day period and the 2-year period are tolled during |
| any time period in which the watercraft is under construction, not |
| in the physical possession of the purchaser or otherwise incapable |
| of being used by the purchaser to carry a bona fide payload in |
| interstate or foreign commerce.__The exemption applies to any |
| components, equipment or materials installed during construction, |
| refitting, renovation, retrofitting, repair or refurbishment of a |
| watercraft.__The exemption does not apply to any components, |
| equipment or materials installed after a watercraft has been placed |
| in use in the State by the purchaser as an instrumentality of |
| interstate or foreign commerce. |
