HP0792, LD 1148, item 1 , An Act To Designate Sales Tax Holiday Weekends

An Act To Designate Sales Tax Holiday Weekends

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 36 MRSA §1760, sub-§92 is enacted to read:

92. Columbus Day weekend. Sales during Columbus Day weekend in October, except sales of telecommunications equipment, tobacco products, gas, electricity, motor vehicles, motorboats, meals or a single item the price of which is in excess of $2,500. Transfer of possession of or payment in full for the property must occur on one of those days and prior sales or layaway sales are ineligible. For purposes of this subsection, "weekend" means a contiguous Saturday, Sunday and Monday in the same month, beginning at 12:01 a.m. Saturday and ending at midnight Monday.

Sec. 2. Report. On or before December 31, 2009, the Director of the Bureau of Revenue Services within the Department of Administrative and Financial Services shall certify to the State Controller the amount of sales tax unpaid, as well as revenue raised from personal and corporate income taxes and other sources as a result of the sales tax holiday weekend. The director shall file a report with the Joint Standing Committee on Taxation detailing by fund the amount of revenue that had been deposited in each fund if sales tax had been paid during the sales tax holiday weekend.

The Department of Administrative and Financial Services, Bureau of Revenue Services shall in consultation with the Maine Merchants Association recommend 2 weekends beginning in 2010 to designate as sales tax holiday weekends. The Bureau of Revenue Services shall report to the Joint Standing Committee on Taxation the dates that have been agreed upon between the Bureau of Revenue Services and the Maine Merchants Association. The Joint Standing Committee on Taxation has authority to submit legislation pertaining to the dates that are selected for the sales tax holiday weekends to the Second Regular Session of the 124th Legislature.

summary

This bill provides an exemption from the sales tax for all items sold on Columbus Day weekend in October. The bill also sets out exemptions to the sales tax holiday weekend. The bill requires the Director of the Bureau of Revenue Services within the Department of Administrative and Financial Services to report to the State Controller the amount of sales tax unpaid, as well as revenue raised from personal and corporate income taxes and other sources as a result of the sales tax holiday weekend. The Bureau of Revenue Services and the Maine Merchants Association shall consult and present recommendations to the Joint Standing Committee on Taxation for 2 sales tax holiday weekends for the year 2010 and beyond. The Joint Standing Committee on Taxation has authority to submit legislation to the Second Regular Session of the 124th Legislature pertaining to the dates that are selected for the sales tax holiday weekends.

HP0792 LD 1148	First Regular Session - 124th Legislature - Text: MS-Word, RTF or PDF		LR 1251 Item 1
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