This bill amends the General Sales Tax Act to introduce a new provision allowing purchasers to claim a sales tax refund for eligible back-to-school property purchased during a specified period from August 8th to August 24th of eligible years, defined as calendar years between 2025 and 2030. To qualify for the refund, purchasers must meet several conditions, including submitting a claim within 30 days of purchase, providing accurate purchase records, and ensuring that the items purchased fall within the defined categories of eligible back-to-school property, which includes clothing priced under $100 and school supplies priced under $20. The bill also outlines the treatment of discounts and coupons, the responsibilities of sellers regarding sales tax remittance, and the conditions under which refunds can be issued.

Additionally, the bill establishes a "back-to-school rebate fund" in the state treasury, which will receive funds from the sales tax collected on eligible back-to-school property during the specified time period. The fund will be used to provide refunds and cover administrative costs associated with processing these claims. The bill also includes provisions for the distribution of sales tax revenues to various state funds, ensuring that a portion of the tax collected is allocated to education and transportation initiatives. Overall, this legislation aims to support families during the back-to-school shopping season by providing financial relief through sales tax refunds.

Statutes affected:
Senate Introduced Bill: 205.75