Bill Text: IN HB1314 | 2012 | Regular Session | Introduced
Bill Title: School instructional material sales tax holiday.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-11 - First reading: referred to Committee on Ways and Means [HB1314 Detail]
Download: Indiana-2012-HB1314-Introduced.html
Citations Affected: IC 6-2.5-5-45.
Synopsis: School instructional material sales tax holiday. Provides a
sales tax exemption for school instructional material that is purchased
during either of the following: (1) The three day period from the first
Friday in January through the following Sunday. (2) The three day
period from the second Friday in August through the following Sunday.
Effective: Upon passage.
January 10, 2012, read first time and referred to Committee on Ways and Means.
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A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
(1) The three (3) day period beginning at 12:01 a.m. on the first Friday in January and ending at 11:59 p.m. on the following Sunday.
(2) The three (3) day period beginning at 12:01 a.m. on the second Friday in August and ending at 11:59 p.m. on the following Sunday.
(b) As used in this section, "school instructional material" means written material commonly used by a student in a course of study as a reference and to learn the subject being taught. The term is limited to the following:
(1) Reference books.
(2) Reference maps and globes.
(3) Textbooks.
(4) Workbooks.
(c) A sale of school instructional material is exempt from the state gross retail tax during the period to which this section applies, if the sales price of the item of school instructional material does not exceed five hundred dollars ($500).
(d) The department may adopt rules under IC 4-22-2 to implement this section.