HB 287/LM (BR 173) - M. Cherry, C. Geveden
AN ACT relating to motor vehicles.
Create a new section of KRS Chapter 132 to exempt from the state ad valorem tax on motor vehicles the first $5,000 of assessed value for the January 1, 2002, assessment date and the first $10,000 of assessed value on or after January 1, 2003, assessment date; amend KRS 132.487, 132.800, 134.805, 134.810, 134.815, and 134.820 to phase-in a $2 per vehicle administrative fee to maintain the centralized ad valorem tax system and compensate the county clerks for the loss of the commission on state taxes collected on motor vehicles.
Feb 13-introduced in House
Feb 14-to Appropriations and Revenue (H)