Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that creates the Sales Tax Holiday Period for Illinois.

Highlights:

-Authorizes a 1.25% reduced rate of tax from August 6, 2010 through August 15, 2010, and each subsequent year beginning on the first Friday in August and ending on the Sunday occurring 9 days thereafter up until August 16, 2013 (Sec. 3-6, 3-10, 2-8, 2-10). -Subjects the following items to the reduced rate (Sec. 3-6, 2-8):

-Clothing items with a retail price of less than $100 that are suitable for general use and therefore excludes clothing accessories, protective equipment, or sport or recreational equipment. -School supplies that are used by a student in a course of study excluding art supplies, instructional materials, cameras, and school computer supplies.

-Establishes that the reduced tax rate may also apply to (Sec 3-6, 2-8):

-Items that qualify for the reduced rate that are bundled together with items that do not qualify and that exceed the value of the items that do not qualify; -Items that may use a coupon or discount if, once applied, the price is within a sales tax holiday price threshold; -Items that are normally sold together (i.e. a pair of shoes) and cannot be split and sold separately; -Out-of-stock items that have been purchased on a rain check, if the purchase takes place during the Sales Tax Holiday Period; -Exchanges of similar items where no additional tax is due, and when the item is returned and repurchased with a credit; -Delivery charges including shipping, handling and service charges; and -Orders if the item is ordered and paid for during the Sales Tax Holiday Period.

-Specifies that for 60 days after the Sales Tax Holiday Period, returns must be reimbursed at the reduced tax rate unless the customer provides a receipt or invoice that shows the tax was paid at the 6.25% general rate (Sec. 3-6, 2-8). -Authorizes the Department to implement the provisions of this Section through the use of emergency rules, along with permanent rules filed concurrently with such emergency rules (Sec. 3-6, 2-8).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that creates the Sales Tax Holiday Period for Illinois.

Highlights:

-Authorizes a 1.25% reduced rate of tax from August 6, 2010 through August 15, 2010, and each subsequent year beginning on the first Friday in August and ending on the Sunday occurring 9 days thereafter up until August 16, 2013 (Sec. 3-6, 3-10, 2-8, 2-10). -Subjects the following items to the reduced rate (Sec. 3-6, 2-8):

-Clothing items with a retail price of less than $100 that are suitable for general use and therefore excludes clothing accessories, protective equipment, or sport or recreational equipment. -School supplies that are used by a student in a course of study excluding art supplies, instructional materials, cameras, and school computer supplies.

-Establishes that the reduced tax rate may also apply to (Sec 3-6, 2-8):

-Items that qualify for the reduced rate that are bundled together with items that do not qualify and that exceed the value of the items that do not qualify; -Items that may use a coupon or discount if, once applied, the price is within a sales tax holiday price threshold; -Items that are normally sold together (i.e. a pair of shoes) and cannot be split and sold separately; -Out-of-stock items that have been purchased on a rain check, if the purchase takes place during the Sales Tax Holiday Period; -Exchanges of similar items where no additional tax is due, and when the item is returned and repurchased with a credit; -Delivery charges including shipping, handling and service charges; and -Orders if the item is ordered and paid for during the Sales Tax Holiday Period.

-Specifies that for 60 days after the Sales Tax Holiday Period, returns must be reimbursed at the reduced tax rate unless the customer provides a receipt or invoice that shows the tax was paid at the 6.25% general rate (Sec. 3-6, 2-8). -Authorizes the Department to implement the provisions of this Section through the use of emergency rules, along with permanent rules filed concurrently with such emergency rules (Sec. 3-6, 2-8).

Full Bill Text