Bill Text: IN SB0403 | 2012 | Regular Session | Introduced

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Bill Title: Sales tax holiday for textbooks.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2012-01-09 - First reading: referred to Committee on Tax and Fiscal Policy [SB0403 Detail]

Download: Indiana-2012-SB0403-Introduced.html

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Introduced Version

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SENATE BILL No. 403

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DIGEST OF INTRODUCED BILL

Citations Affected: IC 6-2.5-5-45.

Synopsis: Sales tax holiday for textbooks. Provides a sales tax exemption for school instructional materials that are purchased during the two day period beginning on the second Wednesday in August.

Effective: Upon passage.

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Simpson

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    January 9, 2012, read first time and referred to Committee on Tax and Fiscal Policy.

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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 this style type.
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 this style type reconciles conflicts between statutes enacted by the 2011 Regular Session of the General Assembly.

SENATE BILL No. 403

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    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)IN0403.1.1. -->     SECTION 1. IC 6-2.5-5-45 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE UPON PASSAGE]: Sec. 45. (a) This section applies to transactions occurring during the period:
        (1) beginning at 12:01 a.m. of the second Wednesday in August; and
        (2) ending at 11:59 p.m. of the following Thursday.
    (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.

SOURCE: ; (12)IN0403.1.2. -->     SECTION 2. An emergency is declared for this act.