| SB 0304 | Creates a clothing and school supplies sales tax holiday |
| Sponsor: | Jacob | |||
| LR Number: | 0057S.01I | Fiscal Note: | 0057-01 | |
| Committee: | Ways and Means | |||
| Last Action: | 01/27/03 - Second Read and Referred S Ways and Means Committee | Journal page: | S137 | |
| Title: | ||||
| Effective Date: | Emergency Clause | |||
SB 304 - This act creates a sales tax holiday for articles of clothing valued at one hundred dollars or less and school supplies valued at fifty dollars or less for nine days in early August. The holiday applies to both state and local sales taxes. The State will reimburse local jurisdictions for revenue lost as a result of this act.
The act permits local political subdivisions to opt-out of the sales tax holiday in 2004, its second year.
The act establishes a "Sales Tax Holiday Joint Legislative Committee" to study and review the effects of the holiday and report to the general assembly on or before January 8, 2005.
The act has an emergency clause enacting it on July 1, 2003, and a sunset of July 1, 2005.
This act is substantially similar to SB 927 (2002).
JEFF CRAVER