HB 952 -- INDEPENDENCE DAY SALES TAX HOLIDAY (Sutherland)

COMMITTEE OF ORIGIN:  Committee on Ways and Means

This bill establishes the Independence Day Sales Tax Holiday
which, beginning January 1, 2009, authorizes a state sales and
use tax exemption on the purchase of all tangible personal
property in the state and all taxable retail services rendered in
the state every year during the period of July 4 through July 31.
Retailers may offer a sales tax refund in lieu of the sales tax
holiday when less than 2% of their sales qualifies for the
holiday.  Any political subdivision may adopt an ordinance or
order to opt into the holiday.

The provisions of the bill will expire December 31 six years from
the effective date.

The bill contains an emergency clause.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of More than
$145,901,836 in FY 2010, More than $145,906,750 in FY 2011, and
More than $145,909,954 in FY 2012.  Estimated Cost on Other State
Funds of More than $83,886,500 in FY 2010, FY 2011, and FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:26 am