HB 94/LM (BR 148) - H. Collins, D. Floyd, M. Dossett, T. McKee, C. Miller, T. Moore, K. Upchurch
AN ACT relating to the valuation of motor vehicles for property tax purposes.
Amend KRS 132.485 to clarify the standards for appraising the fair cash value of motor vehicles that are 20 years old or older, for property tax purposes, by providing that no vehicle of said age shall be presumed to have been maintained or restored to either the original factory condition or any otherwise classic condition unless information is available that warrants that finding, and also by establishing the standard value of said vehicles as being either the actual valuation of a vehicle in its nineteenth year for vehicles assessed for taxation in the Commonwealth in that year, or the clean trade-in value prescribed by the applicable edition of the valuation manual prescribed by the Department of Revenue for a vehicle in its nineteenth year if the vehicle was not assessed in the Commonwealth in that year, reduced by ten percent annually for each year beyond 19 years, unless information is available that warrants any deviation from that standard value; make technical corrections; declare that the Act shall apply to motor vehicles assessed on or after January 1, 2015.
HB 94 - AMENDMENTS
HCS/LM - Eliminate all references to "clean trade-in" value, replace with "average trade-in".
SCS/LM - Amend KRS 132.485 to provide that any motor vehicle that is 20 years old or older be valued as it was assessed in the vehicle's nineteenth year reduced by 10% annually for each year beyond 19 years; amend KRS 189.222 to authorize vehicles registered under KRS 186.050(3) that are engaged exclusively in the transportation of certain agricultural products to exceed the gross weight provisions by a weight tolerance of 10%, except on the interstate highway system.
SCA (1/Title, B. Leeper) - Make title amendment.
SFA (1/Title, B. Leeper) - Make title amendment.
SFA (2, B. Leeper) - Declare an EMERGENCY.
SFA (3, S. Humphries) - Amend KRS 189.222 to allow a vehicle up to 80,000 pounds to travel on any state highway for up to 15 miles, in order to reach a state highway with an 80,000 weight limit, as long as the vehicle does not exceed posted bridge weight limits or the limits for the size of truck.
(Prefiled by the sponsor(s).)
Jan 7-introduced in House; to Transportation (H)
Jan 30-posted in committee
Feb 4-reported favorably, 1st reading, to Calendar with Committee Substitute
Feb 5-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Thursday, February 6, 2014
Feb 10-3rd reading, passed 84-0-5 with Committee Substitute
Feb 11-received in Senate
Feb 13-to Appropriations & Revenue (S)
Mar 18-reported favorably, 1st reading, to Calendar with Committee Substitute, committee amendment (1-title); floor amendment (2) filed to Committee Substitute, floor amendment (1-title) filed
Mar 19-2nd reading, to Rules; floor amendment (3) filed to Committee Substitute
Mar 21-posted for passage in the Regular Orders of the Day for Monday, March 24, 2014
Mar 24-passed over and retained in the Orders of the Day
Mar 25-3rd reading; committee amendment (1-title) withdrawn ; passed 38-0 with Committee Substitute, floor amendments (1-title) (2) and (3)
Mar 26-received in House; to Rules (H)
Mar 27-taken from Rules; posted for passage for concurrence in Senate Committee Substitute, floor amendments (1) (2) and (3) ; House refused to concur in Senate Committee Substitute, floor amendments (1) (2) and (3) ; received in Senate