A Senate committee on Monday saved the popular Second Amendment Sales Tax Holiday, stripping it from legislation that if ultimately approved could suspend the two other scheduled sales tax holidays for the 2015-16 fiscal year.
By a vote of 7-2 in favor of the amendment, the Senate Revenue and Fiscal Affairs Committee voted to remove from legislation the annual three-day event held every September when guns, ammo and other designated hunting supplies can be purchased without paying state or local taxes.
The original bill, which passed the House of Representatives last week, is sponsored by Rep. Jack Montoucet, D-Crowley.
According to the Legislative Fiscal Office, suspension of all three annual holidays could have added back about $4.3 million to the state’s coffers: Roughly $3.5 million from the General Sales Tax Holiday typically held in August, about $600,000 from the Second Amendment Tax Holiday and just more than $100,000 from the Hurricane Preparedness tax holiday, which took place last weekend.
Committee Chairman Sen. Neil Riser, R-Columbia, who supported the amendment, said retailers who purchased hundred of thousands of dollars of goods in anticipation of sales over the tax holiday and who already paid taxes on that inventory would have a "double impact" if the holiday was suspended.
The amended bill, minus the Second Amendment Sales Tax Holiday, now advances to the full Senate for consideration.