Rep. Reineke Announces Passage Of Bill Creating Sales Tax Holiday For Back-to-School Purchases
SB 264 exempts purchases from sales tax during weekend in August
April 27, 2016
 
[ Bill Reineke Home | Bill Reineke Press ]
 
 

Today State Representative Bill Reineke (R-Tiffin) announced that the Ohio House passed Senate Bill 264, which designates the first weekend in August 2016 as a sales tax holiday for the purposes of back-to-school shopping. The legislation creates a three-day period in which certain school supplies are exempt from both state and county sales tax.


Senate Bill 264 allows clothing up to $75 per item, and school supplies and instructional materials up to $20 per item, to qualify for the sales tax exemption. The intention of the sales tax holiday is to provide families a tax break on back-to-school shopping, while also stimulating economic activity for local businesses.


“Every family in the state who sends their children back to school this fall benefits from this sales tax holiday,” Rep. Reineke said. “On top of the savings passed on to families, many retailers across the state can now expect a windfall of activity that will boost our local economies.”


In the previous General Assembly, the legislature passed similar legislation to create a one-time sales tax holiday in 2015 as a way to explore the potential impact. According to the University of Cincinnati’s Economic Center, the sales total for that weekend was 6.48 percent higher than anticipated and led to $4.7 million in additional revenue for the state.


The study also showed an increase of sales near Ohio’s borders, indicating that people from neighboring states came to Ohio to do their back-to-school shopping and take advantage of the sales tax exemption.


The success of the sales tax holiday in 2015 has led the legislature to reauthorize the back-to-school sales tax holiday for the first weekend of August. Provided that Governor Kasich signs the legislation, the bill will take effect in time for the sales tax holiday to take place from August 5-7 of this year.


Senate Bill 264 was sponsored by State Senator Kevin Bacon (R-Minerva Park). The bill now goes to Governor Kasich for his signature.

 
 
 
  
Featured Posts

Rep. Bill Reineke Announces Sales Tax Holiday For First Weekend Of August

 
Columbus - 

State Representative Bill Reineke (R-Tiffin) today announced that a sales tax holiday will be held this weekend, an opportunity for parents to receive some tax relief during back-to-school shopping in preparation for the new school year which will also stimulate economic activity for Ohio’s retailers. This year’s sales tax holiday was established by the state operating budget, House Bill 49.



 
 

Rep. Reineke Applauds Legislature's Approval Of Payday Lending Reform Legislation

 
Columbus - 

State Representative Bill Reineke (R-Tiffin) applauded the Ohio House’s concurrence on Senate changes to House Bill 123, legislation sponsored by Reps. Kyle Koehler (R-Springfield) and Michael Ashford (D-Toledo). The bipartisan bill will reform the state’s payday lending industry and is aimed at lowering interest rates on loans and helping borrowers avoid endless debt cycles.