CO HB1094

Creates a 3-day state sales and use tax exemption for back-to-school items during the first week of August (August 1-3, 2014), limited to clothing and shoes under $75 and school supplies under $50.

Defines "back-to-school items" as clothing (including shoes and sport/recreational equipment but excluding accessories) and a comprehensive list of school supplies including backpacks, binders, pencils, notebooks, markers, scissors, textbooks, and other educational materials.

Exemption period begins in the first August after a fiscal year in which Colorado's gross general fund revenues are estimated to reach at least $8.5 billion and continues for 5 consecutive years.

Permits towns, cities, and counties to adopt identical local sales tax exemptions for back-to-school items during the same period as the state exemption, requiring express inclusion in their sales tax ordinances.

Exemption applies only to noncommercial purchases and excludes sales for commercial use.