The 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 each eligible year. 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 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 criteria for determining eligibility, such as how discounts and coupons affect the sales price and the conditions under which items are considered purchased.

Additionally, the bill establishes a "back-to-school rebate fund" in the state treasury, where funds collected from the sales tax on eligible back-to-school property will be deposited until September 30, 2030. The fund will be used to provide refunds and cover administrative costs related to the refund claims. The bill also includes various definitions and clarifications regarding eligible items and the responsibilities of sellers and purchasers in the refund process. Overall, this legislation aims to support families by providing financial relief during the back-to-school shopping period.

Statutes affected:
Senate Introduced Bill: 205.75