Bill Text: IN HB1272 | 2012 | Regular Session | Introduced
Bill Title: Sales tax holiday.
Spectrum: Bipartisan Bill
Status: (Introduced - Dead) 2012-01-09 - First reading: referred to Committee on Ways and Means [HB1272 Detail]
Download: Indiana-2012-HB1272-Introduced.html
Introduced Version
HOUSE BILL No. 1272
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DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-2.5-5-45.
Synopsis: Sales tax holiday. Provides a sales tax exemption for any
item purchased at retail with a sales price of $500 or less during a three
day period each year beginning on the second Friday of August.
Effective: April 1, 2012 (retroactive).
Steuerwald, Battles
January 9, 2012, read first time and referred to Committee on Ways and Means.
Introduced
Second Regular Session 117th General Assembly (2012)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
HOUSE BILL No. 1272
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-2.5-5-45; (12)IN1272.1.1. -->
SECTION 1. IC 6-2.5-5-45 IS ADDED TO THE INDIANA CODE
AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE
APRIL 1, 2012 (RETROACTIVE)]: Sec. 45. (a) As used in this
section, "sales tax holiday" means the period:
(1) beginning at 12:01 a.m. on the second Friday of each August; and
(2) ending at 11:59 p.m. on the following Sunday.
(b) During each sales tax holiday, an item of tangible personal property sold in a retail transaction is exempt from the state gross retail tax if the sales price of the item does not exceed five hundred dollars ($500).
(1) beginning at 12:01 a.m. on the second Friday of each August; and
(2) ending at 11:59 p.m. on the following Sunday.
(b) During each sales tax holiday, an item of tangible personal property sold in a retail transaction is exempt from the state gross retail tax if the sales price of the item does not exceed five hundred dollars ($500).
SOURCE: ; (12)IN1272.1.2. -->
SECTION 2. An emergency is declared for this act.
