Colorado HB1048 proposes a sales tax holiday on back-to-school items for three years.
Colorado HB1048 introduces a sales and use tax exemption for back-to-school items, effective for three years. The tax holiday applies to clothing, school supplies, and learning aids purchased primarily for individuals under 21 years old. The exemption limits are $100 for clothing, $50 for school supplies, and $30 for learning aids. The tax holiday occurs during the last weekend of July in 2027, 2028, and 2029. Local governments can also implement identical tax holidays. The bill mandates the State Auditor to evaluate the exemption's effectiveness and savings for taxpayers.
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