- Introduced -

SB 894 - This act creates a state and local sales tax holiday for items of clothing (costing no more than $100 each) and school supplies (costing no more than $50 per purchase) sold during a four-day period in August, 2002 and 2003. The state will reimburse all local tax revenues lost in calendar year 2002 and individual political subdivisions may, by ordinance, opt their local sales taxes out of the holiday exemption beginning in calendar year 2003. A joint legislative committee is created to study and review the effect of the sales tax holiday and to report their findings and recommendations to the General Assembly by January 8, 2004. This portion of the act has an emergency clause and a sunset date of July 1, 2004.

This act also prohibits retailers from obtaining refunds for sales taxes without crediting the original purchasers. This portion of the act is identical to SB 195 (2001).

This act is similar to SB 334 (2001).

JEFF CRAVER