The bill proposes a sales tax holiday in Minnesota for the purchase of school supplies, specifically from August 15, 2023, to August 21, 2023. During this period, the sales tax imposed under Minnesota Statutes, chapter 297A, will not be collected on retail sales of book bags priced at $60 or less and school supplies priced at $15 or less per item. The bill defines "school supplies" to include a wide range of items such as binders, calculators, crayons, notebooks, and other essential educational materials.

Additionally, the bill states that this sales tax holiday will take effect the day following its final enactment. This initiative aims to provide financial relief to families preparing for the upcoming school year by reducing the cost of necessary school supplies.