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2006 SESSION

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068211424
HOUSE BILL NO. 1206 Offered January 11, 2006 Prefiled January 11, 2006 A BILL to amend the Code of Virginia by adding a section numbered 58.1-611.2, relating to a sales and use tax exemption for school supplies. ---------- Patron-- Moran ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding a section numbered 58.1-611.2 as follows:

§ 58.1-611.2. Limited exemption for certain school-related items.

Beginning in 2006, for a three-day period that begins each year at 12:01 a.m. on the second Friday in August and ends at midnight on the immediately following Sunday, the tax imposed by this chapter or pursuant to the authority granted in § 58.1-605 or 58.1-606 shall not apply to school supplies, provided that the selling price of each article is $100 or less. Any discount, coupon, or other credit offered either by the retailer or by a vendor of the retailer to reduce the final price to the customer shall be taken into account in determining the selling price for purposes of this exemption. 

The Department shall develop guidelines that describe the items of merchandise that qualify for the exemption and make such guidelines available, both electronically and in hard copy, no later than August 1 of each year.