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Fla. Will Renew Back-To-School Sales Tax Holiday

TALLAHASSEE (CBSMiami/AP) — There's good news for Florida shoppers before they send their kids off to school next fall.

Florida lawmakers are going to renew the state's popular back-to-school sales tax holiday.

A Senate budget panel on Wednesday approved a tax cut package (HB 7087) that includes roughly $120 million worth of tax breaks.

The bill calls for a three-day sales tax holiday from Aug. 3 to Aug. 5.

During the holiday shoppers would not have to pay state or local sales taxes on clothing worth $75 or less or pay taxes on school supplies worth $15 or less.

The tax cut package also includes a top priority for Gov. Rick Scott. It increases the amount of money exempt from the state's corporate income tax.

The legislation also includes a whole series of other tax breaks, including one that would benefit a proposed beef slaughterhouse in Marion County.

(TM and © Copyright 2012 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2012 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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