Introduced Version






HOUSE BILL No. 1039

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DIGEST OF INTRODUCED BILL



Citations Affected: IC 6-2.5-5-43.

Synopsis: Sales tax holiday. Provides a sales tax exemption for any item purchased at retail with a sales price of $2,500 or less during a two day period each year beginning on the second Saturday of August.

Effective: April 1, 2008 (retroactive).





Steuerwald, Battles




    January 8, 2008, read first time and referred to Committee on Ways and Means.







Introduced

Second Regular Session 115th General Assembly (2008)


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.
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HOUSE BILL No. 1039



    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 6-2.5-5-43; (08)IN1039.1.1. -->     SECTION 1. IC 6-2.5-5-43 IS ADDED TO THE INDIANA CODE AS A NEW SECTION TO READ AS FOLLOWS [EFFECTIVE APRIL 1, 2008 (RETROACTIVE)]: Sec. 43. (a) As used in this section, "sales tax holiday" means the two (2) day period:
        (1) beginning at 12:01 a.m. of the second Saturday of each August; and
        (2) ending at 11:59 p.m. of 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 two thousand five hundred dollars ($2,500).

SOURCE: ; (08)IN1039.1.2. -->     SECTION 2. An emergency is declared for this act.