Bill > H2490

This bill directs the Commissioner of Revenue to annually designate a two-day weekend in August for a sales tax holiday, during which no sales tax, also known as an excise, will be collected on most tangible personal property sold at retail in the commonwealth, with some exceptions. Specifically excluded from this holiday are telecommunications, gas, steam, electricity, motor vehicles, boats, meals, and any single item costing more than $2,500, and tobacco products. The Commissioner must choose these days by July 15th, considering religious and secular observances, and aiming to maximize economic benefit to the state, while vendors will still need to adhere to existing reporting requirements. The bill also mandates that the Commissioner report the amount of sales tax forgone and any new revenue generated by the holiday by December 31st each year.