MS HB1620

Exempts retail sales of school supplies from sales tax during a period beginning at 12:01 a.m. on the last Friday in July and ending at 12:00 midnight the following Saturday.

Limits the exemption to school supplies with a sales price of less than $100.00.

Defines "school supplies" with an all-inclusive list of 41 items including backpacks, binders, calculators, paper, pencils, pens, textbooks, and similar items commonly used by students.

Allows municipalities to suspend the exemption within their corporate limits by adopting a resolution and providing notice to the Department of Revenue at least 90 days in advance.

Becomes effective July 1, 2012.