The bill amends the Use Tax Act to introduce a new section, 14c, which allows purchasers to claim a refund for use tax on 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 eligible items fall within defined price limits. The bill specifies what constitutes eligible back-to-school property, which includes clothing priced under $100 and school supplies priced under $20, while excluding items such as clothing accessories, sport equipment, and furniture.

Additionally, the bill outlines the responsibilities of sellers regarding the remittance of use tax on eligible purchases and the conditions under which refunds can be issued for returned items. It also establishes a back-to-school rebate fund to manage the tax collections from eligible back-to-school property purchases, ensuring that funds are allocated appropriately. The bill includes various definitions related to the eligible items and the refund process, and it stipulates that the amendments will not take effect unless related legislation is also enacted.

Statutes affected:
Senate Introduced Bill: 205.111