Summary:

 Senate Bill 76 (SB 76) modifies the Back-to-School Sales Gross Receipts Tax Deduction by changing the applicable sales period to the last weekend in July and increasing the price limits for eligible items. Specifically, the bill raises the sales price limit for clothing and footwear from $100 to $150, for computers from $1,000 to $1,500, and for associated computer devices from $500 to $750 

Legislation Overview:

 Senate Bill 76 (SB 76) updates the Back-to-School Sales Gross Receipts Tax Deduction to enhance accessibility and align with inflationary trends. The key modifications include:
	•	Sales Period: Moves the applicable sales period from the first weekend in August to the last weekend in July.
	•	Clothing and Footwear: Increases the eligible sales price for each item from $100 to $150. Exclusions for athletic and protective clothing, as well as accessories, remain unchanged.
	•	Computers: Raises the maximum sales price for eligible computers from $1,000 to $1,500.
	•	Computer Accessories: Increases the maximum sales price for associated devices (e.g., monitors, speakers, printers, keyboards, microphones, and mice) from $500 to $750.
	•	School Supplies: The definition remains unchanged, including items like notebooks, paper, art supplies, and backpacks, while continuing to exclude office equipment and furniture.

The bill aims to provide additional financial relief to families preparing for the school year while encouraging the purchase of essential educational items. By adjusting price thresholds and advancing the sales period, SB 76 supports broader participation in the tax deduction program.
 

Current Law:

 Under current law, the Back-to-School Sales Gross Receipts Tax Deduction applies to:
	•	Sales occurring during the first weekend in August.
	•	Clothing and footwear priced under $100, excluding certain specialty items and accessories.
	•	Computers priced under $1,000 and associated devices priced under $500.
	•	School supplies with specific exclusions, such as office equipment and furniture.