HB2873 Summary

• During the week of Veterans Day each year, food for human consumption (to be consumed off-premises), prescription and nonprescription medicines, drugs, and certain medical appliances are exempt from sales tax if purchased by a veteran of the United States Armed Forces.

• During the week of Veterans Day each year, all other merchandise is taxed at a reduced rate of 5% (instead of the standard 6.25%) if purchased by a veteran of the United States Armed Forces.

• These tax exemptions and reductions apply under the Use Tax Act, Service Use Tax Act, Service Occupation Tax Act, and Retailers' Occupation Tax Act.

• The exemption and reduction are exempt from certain limitation provisions in each respective tax act.

• The Act becomes effective immediately upon passage.