This bill amends sections 77-2701 and 77-2701.04 of the Revised Statutes Cumulative Supplement, 2024, to introduce a sales and use tax exemption for specific items during a designated three-day period in August. The exempt items include clothing with a taxable value of $100 or less, school supplies not exceeding $50 per purchase, computer software valued at $350 or less, graphing calculators priced at $150 or less, and personal computers or peripherals not exceeding $1,500. The bill also outlines conditions for layaway purchases, discounts, and exchanges related to these exempt items.

Additionally, the bill harmonizes existing provisions and establishes an operative date of January 1, 2027. It repeals the original sections 77-2701 and 77-2701.04, thereby updating the legal framework governing sales and use tax exemptions in Nebraska. The new language clarifies definitions for clothing, personal computers, and school supplies, ensuring that the exemptions are applied consistently and fairly.

Statutes affected:
Introduced: 77-2701, 77-2701.04