This bill amends the General Sales Tax Act to introduce a new provision for a back-to-school sales tax refund. Specifically, it allows purchasers of eligible back-to-school property to claim a refund for sales tax on purchases made between August 8th and August 24th of designated years, provided they meet certain conditions, such as submitting a claim within 30 days and providing proof of purchase. The bill defines "eligible back-to-school property" to include clothing priced under $100 and school supplies priced under $20, while explicitly excluding items like clothing accessories, sports equipment, and furniture.

Additionally, the bill establishes a new Back-to-School Rebate Fund in the state treasury, which will be funded by sales tax collections from eligible back-to-school property sales 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 management and distribution of funds collected under the sales tax, ensuring that a portion is allocated to various state funds, including the state school aid fund and the comprehensive transportation fund.

Statutes affected:
Senate Introduced Bill: 205.75