Senator Don Barrington, R-Lawton, announced he is authoring Senate Bill 723 that will expand his successful Back-to-School Sales Tax Holiday to include school supplies and reference materials.
Under the current law, created by Barrington’s Senate Bill 861 in 2007, clothing and shoes valued at less than $100 can be purchased free of sales tax during the first weekend in August. Barrington successfully introduced Senate Bill 861, which passed the Legislature with bipartisan support and received the governor’s signature, after years of failed attempts by other legislators.
“Preparing kids for school can put financial stress on Oklahoma families,” said Barrington. “The annual Back-to-School Sales Tax Holiday has proven to be very beneficial to families statewide, while also having a positive impact on our economy. Families all across our state and nation are experiencing financial instability, and I am confident this legislation will aid them even more during this difficult economic time.”
A revenue collections report released by state officials last August showed that the state’s general revenue fund received $152.9 million from sales taxes in August, which is up $22.3 million (17 percent) from the same month last year and up $15 million (10.9 percent) above the estimate for 2008.