MS HB358

Exempts retail sales of school supplies from sales tax during a tax-free weekend 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" with an all-inclusive list of 41 items including backpacks, binders, calculators, notebooks, pencils, pens, paper, markers, folders, scissors, glue, textbooks, and workbooks.

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

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

Becomes effective July 1, 2016, and does not affect prior tax assessments or collection of taxes accrued before the effective date.