UPDATE: 5/7/2012 The Colorado Senate has postponed any action on House Bill 1069 for Back-to-School Sales Tax Holiday and voted to not progress it.
If the bill passes, all non-commercial consumers will be able to purchase the following items during the holiday, without paying sales tax:
- Clothing (limit $75 per item)
- Clothing accessories (no limit specified)
- School supplies (limit $50 per item)
- Computers (limit $1000 per item)
The bill states that the tax holiday would occur each year for five consecutive years. However, it places a caveat on the first year the tax holiday would take place. The holiday would only go into effect “. . . the first calendar year after annual Colorado personal income increases by at least five percent.” The Department of Revenue would have until April 30 each year starting in 2013 to announce on its website whether the sales tax holiday would occur that August.