Introduced
by
To exempt from sales tax the value of a trade-in on the purchase of a new motor vehicle or titled watercraft. The buyer would only pay tax on the difference between the value of the trade-in and the purchase price of the new item.
Referred to the Committee on Finance
Reported without amendment
With the recommendation that the bill pass.
Substitute offered
To phase-in the tax cut in biannual installments through the end of 2017.
The substitute passed by voice vote
Passed in the Senate 37 to 1 (details)
To exempt from sales tax the value of a trade-in on the purchase of a new motor vehicle or titled watercraft. The buyer would only pay tax on the difference between the value of the trade-in and the purchase price of the new item. The tax cut would be phased in biannual installments through the end of 2017.
Referred to the Committee on Tax Policy
Reported without amendment
With the recommendation that the substitute (H-2) be adopted and that the bill then pass.
