MS HB195

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.

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

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

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

Takes effect July 1, 2015.