This bill amends the Use Tax Act to introduce a new section, 14c, which establishes a refund mechanism for purchasers of eligible back-to-school property. The refund applies to purchases made between August 8th and August 24th of designated years, allowing buyers to claim a refund for the use tax paid on qualifying items. To qualify for the refund, purchasers must meet specific conditions, including submitting a claim within 30 days of purchase, providing accurate purchase records, and ensuring that the items purchased fall within defined price limits for clothing and school supplies. The bill also outlines the criteria for determining eligible back-to-school property and the handling of discounts and returns.

Additionally, the bill modifies section 21 of the Use Tax Act to specify that an amount equal to the collections from the use tax on eligible back-to-school property will be deposited into a newly created back-to-school rebate fund. This fund is intended to support the refund process established in section 14c. The bill also clarifies the definitions of various terms related to the eligible items and the conditions under which the tax refund can be claimed. Overall, the legislation aims to provide financial relief to families purchasing back-to-school items while ensuring proper tax collection and management.

Statutes affected:
Senate Introduced Bill: 205.111