Exemption for sale and purchase of certain vessels

The gross receipts and gross proceeds derived from the sale and purchase of vessels, barges, and towboats of at least a fifty-ton load displacement and parts and labor used in the repair and construction of them are exempt from the state compensating tax levied by this subchapter. Acts 1979, No. 449, § 1; A.S.A. 1947, § 84-1904.8. The gross receipts and gross proceeds derived from the sale and purchase of vessels, barges, and towboats of at least a fifty-ton load displacement and parts and labor used in the repair and construction of them are exempt from the state compensating tax levied by this subchapter. Acts 1979, No. 449, § 1; A.S.A. 1947, § 84-1904.8.