Exempts from sales and use tax textbooks required for a course offered by a public or nonpublic postsecondary educational institution. (7/1/19) (EG DECREASE GF RV See Note)
The enactment of SB 85 is expected to positively impact students enrolled in both public and private postsecondary institutions. By exempting textbooks and instructional materials from sales tax, the bill seeks to ease the financial strain on students, potentially leading to higher completion rates in education. It adds these exemptions to the existing list due to continue until June 30, 2025, thus ensuring that a wide range of materials can be affordably accessed by students.
Senate Bill 85, introduced by Senator Barrow, aims to grant an exemption from state sales and use tax for purchases of textbooks and instructional materials required or recommended for courses at postsecondary educational institutions. This legislative measure is set to enhance access to educational resources by relieving students from the financial burden of sales tax on necessary educational materials, which can significantly increase the cost of education.
Overall, the sentiment surrounding SB 85 appears to be supportive, particularly among education advocates and students who stand to benefit from the reduced cost of educational materials. However, the sentiment may vary among stakeholders concerned with potential revenue impacts on state budgets. Some may argue that such exemptions could lead to a decrease in state revenue, necessitating discussions about funding sources for education.
While the bill primarily seeks to facilitate access to educational resources, there are notable points of contention regarding the fiscal implications of the proposed tax exemption. Critics might argue that exempting purchases from sales tax could erode state revenue, which is crucial for funding various public services, including education itself. Amendments during the legislative process also focused on limiting local tax exemptions, raising questions about the balance between state-level and local-level taxation powers and responsibilities.