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Israel Bill Would Underwrite 30-Day Sales Tax Holiday

DEC. 4, 2001

H8842

DATED DEC. 4, 2001

DOCUMENT ATTRIBUTES

Authors
Israel, Rep. Steve
Institutional Authors
House of Representatives
Cross-Reference
For text of H.R. 3398, see Doc 2001-30997 (8 original pages) [PDF].
Subject Area/Tax Topics
Legislative tax issues
Sales and use taxation
Index Terms
tax holiday
sales tax
use tax
Jurisdictions
United States
Language
English
Tax Analysts Document Number
Doc 2001-30992 (1 original page)
Tax Analysts Electronic Citation
2001 TNT 245-34

Citations: H8842

Consumer and Retail Sales Stimulus Act of 2001

=============== SUMMARY ===============

Rep. Steve Israel, D-N.Y., introduced H.R. 3398, which would provide federal reimbursement up to $25 billion to state and local governments for a 30-day sales, use, and retailers' occupation tax holiday. The tax holiday would begin on the 21st day after the bill's enactment; to qualify for the federal reimbursement, states would have to notify the Treasury Department of their plans to participate within 10 days after the bill's enactment. Each state would be responsible for reimbursing local governments for forgone tax revenues within 20 days after receiving the federal funds. (For prior coverage, see Doc 2001-30230 (1 original page) [PDF], 2001 TNT 235-8

Database 'Tax Notes Today 2001', View '(Number'

, or Tax Notes, Dec. 10, 2001, p. 1402.)

DOCUMENT ATTRIBUTES

Authors
Israel, Rep. Steve
Institutional Authors
House of Representatives
Cross-Reference
For text of H.R. 3398, see Doc 2001-30997 (8 original pages) [PDF].
Subject Area/Tax Topics
Legislative tax issues
Sales and use taxation
Index Terms
tax holiday
sales tax
use tax
Jurisdictions
United States
Language
English
Tax Analysts Document Number
Doc 2001-30992 (1 original page)
Tax Analysts Electronic Citation
2001 TNT 245-34

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