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A BILL TO BE ENTITLED
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AN ACT
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relating to the Memorial Day weekend sales tax exemption period. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter H, Chapter 151, Tax Code, is amended |
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by adding Section 151.3275 to read as follows: |
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Sec. 151.3275. MEMORIAL DAY SALES TAX HOLIDAY. (a) The |
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sale of any item is exempted from the taxes imposed by this code if: |
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(1) the total sales price is $25,000 or less; and |
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(2) the sale takes place during a period beginning at |
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12:01 a.m. on the Saturday before the last Monday in May and ending |
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at 12 midnight on that Monday. |
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(b) For any purchase of more than $25,000, the amount above |
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$25,000 is subject to taxes imposed by this code at half of their |
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normal rate if the sale takes place during a period beginning at |
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12:01 a.m. on the Saturday before the last Monday in May and ending |
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at 12 midnight on that Monday. |
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SECTION 2. The change in law made by this Act does not |
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affect taxes imposed before the effective date of this Act, and the |
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law in effect before the effective date of this Act is continued in |
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effect for purposes of the liability for and collection of those |
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taxes. |
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SECTION 3. This Act takes effect September 1, 2017. |