Sales Tax Holiday Soars Through Senate

Holiday expanded to
include school supplies

Senate Bill 723 authored by Senator Don Barrington received passage by the full Senate today with a 42-3 vote. Barrington’s bill expands his successful Back-to-School Sales Tax Holiday to include school supplies and reference materials.

“Preparing kids for school can put financial stress on Oklahoma families,” said Barrington. “Oklahoma’s 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. Businesses see increased traffic and our economy sees a boost since shoppers no longer need to cross state lines to take advantage of the Texas sales tax holiday.

“This legislation comes at a time when our nation is experiencing financial instability,” continued Barrington. “I am confident this legislation will provide relief to Oklahoma families who are trying to save money during this difficult economic time.”

Currently, 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 in 2007, which passed the Legislature with bipartisan support and received the governor’s signature, after years of failed attempts by other legislators.

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.