MS HB783

Exempts retail sales of school supplies from sales taxation during a period beginning at 12:01 a.m. on the last Friday in July and ending at 12:00 midnight the following Saturday, provided each item costs less than $100.

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

Extends existing clothing and footwear sales tax exemption (items under $100 sold during the same weekend period) to also cover school supplies under the same conditions and exclusions.

Allows municipalities to suspend the exemption within their corporate limits by adopting a resolution and providing written notice to the Department of Revenue at least 90 days before the suspension takes effect, effective January 1, 2010 and thereafter.

Becomes effective July 1, 2014, and does not affect tax claims, assessments, or actions accrued before that date.