Proposes to exempt from sales and use taxes the amount of any allowance against the selling price given by a retailer for the value of a used portable electronic taken in trade on the purchase of another portable electronic. (BDR 32-565)

AB 403 proposes that if approved by Nevada voters in 2026, retailers would not charge sales tax on the value of a used portable electronic (like a phone or tablet) traded in for a new one. This exemption would apply only when the trade-in value is clearly stated on the sales receipt and the trade-in occurs during the same transaction as the new purchase. If enacted, the tax exemption would take effect January 1, 2027, and expire December 31, 2050. The bill directly affects consumers purchasing new electronics through trade-ins and retailers handling such transactions.