Tax Holiday for School Supplies-HB532
I like HB532. The bill sponsored by republican Harry Parrish gives state residents a 3 day tax holiday on school supplies. Is this the first positive legislation that gives parents a tax break? The RTD has this brief article on the bill. It would cover:
computer systems costing $1,500 or less;
computers, computer hardware, computer software or portable or hand held calculators with a price of $500 or less;
clothing and footwear each costing $100 or less;
other school supplies with a selling price of $100, including but not limited to dictionaries and notebooks.
Retailers can make any items they choose tax free but they will have to pay the taxes to the state. Our neighboring states North Carolina, Maryland, Tennessee, plus the District of Columbia have a tax holiday so this may keep shoppers from crossing state lines to shop. I would think the Kentuckians will come over to Wise County in record numbers to shop if this bill passes.