SECOND REGULAR SESSION

HOUSE BILL NO. 1672

92ND GENERAL ASSEMBLY

 

 

INTRODUCED BY REPRESENTATIVE STEVENSON.

         Read 1st time March 15, 2004, and copies ordered printed.

STEPHEN S. DAVIS, Chief Clerk

4734L.01I

 

AN ACT

To repeal section 144.517, RSMo, and to enact in lieu thereof one new section relating to college and university-owned bookstores.




Be it enacted by the General Assembly of the state of Missouri, as follows:


            Section A. Section 144.517, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 144.517, to read as follows:

            144.517. 1. In addition to the exemptions granted pursuant to section 144.030, there shall also be exempted from state sales and use taxes all sales of textbooks, as defined by section 170.051, RSMo, when such textbook is purchased by a student who possesses proof of current enrollment at any Missouri public or private university, college or other postsecondary institution of higher learning offering a course of study leading to a degree in the liberal arts, humanities or sciences or in a professional, vocational or technical field, provided that the books which are exempt from state sales tax are those required or recommended for a class. Upon request the institution or department must provide at least one list of textbooks to the bookstore each semester. Alternately, the student may provide to the bookstore a list from the instructor, department or institution of his or her required or recommended textbooks. This exemption shall not apply to any locally imposed sales or use tax.

            2. No state institution of higher education as defined in section 166.201, RSMo, shall provide credit and/or financial aid for the purchase of goods at an institution-owned store without providing for the use of such credit and/or financial aid at stores not owned by the institution. Additionally, every state institution of higher education shall provide immediately upon request a current list of all required textbooks and supplies to any bookstores not owned by the institution any time such information is provided or updated to the institution-owned store.