South Carolina’s annual
sales tax holiday was held from Friday, August 6 through Sunday,
August 8. Items included in the exemption include clothing, clothing
accessories, footwear, school supplies, computers and computer
equipment and software.
In Texas, clothing
and footwear under $100 was exempt from sales tax from August 6-8..
Connecticut’s sales
tax holiday is a week-long event. From August 15 through August 21,
clothing and footwear costing less than $300 will be exempt from
state and local sales tax.
North Carolina’s
sales tax holiday is a two-day event in which clothing, footwear,
and school supplies costing $100 or less per item, athletic
equipment costing $50 or less per item, and computers costing $3,500
or less per item will be exempt from North Carolina sales tax.
Vermont holds two
sales tax holidays for personal computer purchases. Computers sold
for personal use from August 7 through August 9 and October 9
through October 11 are exempt from sales tax.
Massachusetts has a
one-day sales tax holiday that exempts all non-business retail sales
on tangible personal property.
The state of Missouri
has a two-day sales tax holiday (August 13-15) that exempts clothing
costing no more than $100, computers and computer equipment and
software under $2,000, and school supplies which do not exceed a
purchase price of $50.
West Virginia’s
sales tax holiday was from August 6 through 8, and purchases of
clothing and footwear under $100, computers under $750, computer
accessories under $100, and school supplies are exempt during this
period.
HOUSE
CONTINUES IOWA’S SUCCESSFUL ECONOMIC DEVELOPMENT EFFORTS
The House on Wednesday
night passed the Grow Iowa Values Fund, Iowa’s premier economic
development and job growth initiative. The House passed the bill
containing the funds on Thursday.
“The Values Fund is an
all-encompassing effort that combines the richness of Iowa’s appeal
with the determination of Iowa’s employers,” said Rep. Jamie Van
Fossen, R-Davenport. “This puts muscle behind our economic
development efforts that will enable us to compete with not only our
surrounding states, but also makes us a major player across the
country.”
The Values Fund was created
two years ago and has peaked interest in companies spanning the
globe as Iowa ramped up its economic development efforts. The plan
will be in effect for 10 years.
This year’s retooled bill
contains language relating to the composition of the Iowa Economic
Development Board, regulatory assistance, regional economic
development initiatives, cultural and entertainment districts,
rehabilitation project tax credits, the Endow Iowa Program which
offers tax credits to spur development and business tax credits
contained within the “High Quality Job Creation Act.”
The bill contains $35
million for business start ups, expansions, modernizations,
attractions, retention, marketing and research and development.
“We live in an increasingly
competitive market where states vie for companies via grants and
intense marketing campaigns,” said Van Fossen. “With all that Iowa
has to offer, we should counter with an even greater effort and not
cede any ground to another state – or even country.”
An additional $5 million is
allotted to boost the Regents’ economic growth initiatives,
including business parks and facilities related to developing new
technology. $7 million is granted to community colleges for
workforce training and economic development, with an additional $3
million to improve state parks and community development. In all,
the bill funds $50 million dollars in economic enhancement projects.
The bill offers $21 million
in total tax credits for projects that range from cultural
districts, job creation and regional revolving funds.
“These tax credits offer an
incentive to make Iowa a better place and encourage companies to
grow and expand,” said Van Fossen.
IOWA
TEACHER SALARIES CRACK TOP 30 WITH HOUSE GOP BILL PASSAGE
Iowa teachers will see an
increased salary following today’s passage of the House standings
appropriations bill. The bill,
House File 882, included an additional $8.9 million in teacher
compensation, propelling average Iowa classroom teacher salaries to
29th in the country from its current ranking of 38th.
“Our dedicated classroom
professionals work tirelessly to ensure that our children get a
world-class education,” said House Speaker Christopher Rants,
R-Sioux City. “To attract good teachers, we must remain competitive
with regard to salaries. Teachers are a significant influence in a
student’s life, and play a vital role in a child’s development.”
Total teacher compensation
passed by the House this year increases by $22.5 million. When
combined with the House’s $82.1 million allowable growth bill, $57.5
million of which goes toward teacher pay, Iowa’s average classroom
teacher salary rises by $2,242 to $41,201.
“The state saw increased
revenue this year, and we plowed a significant portion of that back
into teacher salaries,” said House Majority Leader Chuck Gipp,
R-Decorah. “Iowa’s first-rate education system will not be
compromised, and House Republicans are ensuring that our classrooms
continue to attract the best and brightest educators.”
The bill now awaits action
in the Senate.
“This is a strong
endorsement of our teachers and their work,” said House
Appropriations Chair Bill Dix, R-Shell Rock, who floor-managed the
bill. “We charged forward with a salary increase that rewards them
for a job well done. As a result, Iowa continues to trumpet its
foundation in education.”
Ways
& Means Update
Bills introduced in committee this week:
No bills were introduced in committee this week
Bills passed out of
committee this week:
HSB 301 - A study bill relating to sales and use tax changes,
excise taxes on rental of rooms and sleeping quarters, and the sale
and use of construction equipment, and including an effective and
retroactive applicability date provision.
HF 725 -An Act relating to the regulation of
snowmobiles, establishing fees, and providing
penalties.
HF 815 - An Act relating
to the disposition of certain real estate transfer tax receipts by
the treasurer of state.
Week
in Review Archives