MO SB937

Exempts retail sales of clothing valued at $100 or less, school supplies not exceeding $50 per purchase, computer software valued at $350 or less, bicycles valued at $300 or less, and personal computers or peripheral devices not exceeding $3,500 from state sales tax during a three-day period beginning at 12:01 a.m. on the first Friday in August and ending at midnight on the following Sunday, beginning in 2005 and each year thereafter

Applies only to items purchased for personal use and does not apply to sales at the Missouri state fairgrounds

Permits political subdivisions to opt out of the sales tax holiday for local sales taxes by adopting an ordinance, with at least 45 calendar days' notice required to the Department of Revenue before the holiday begins

Exempts retailers from the sales tax holiday provision if less than two percent of their merchandise qualifies, requiring such retailers to offer a sales tax refund instead