Lawmakers set date for Tax-Free weekend
Consumers are a step closer to getting a tax-free August weekend of spending in Massachusetts.
Lawmakers announced a compromise Friday on an economic development bill that would let shoppers avoid paying the state’s 6.25 percent sales tax on certain goods on Aug. 14 and 15.
There had been some doubt if the sales tax holiday would survive a legislative panel merging separate bills passed by the House and the Senate. The House approved the holiday as an amendment, but the Senate did not.
The compromise bill will need to win final approval from both chambers today before being sent to Gov. Deval Patrick. The governor said he would support the tax holiday because state revenues have exceeded expectations.
The state skipped the holiday last year for budget reasons.
The bill also streamlines the state’s economic development agencies, which legislative leaders say will make the state more business friendly. It also sets a 3 percent tax rate on capital investments in startup companies.