House Bill No. [insert number] proposes a state and local sales and use tax exemption for certain antique motor vehicles, defined as vehicles manufactured at least 25 years ago, not used for commercial purposes, and valued at $10,000 or more. The bill establishes that purchases of these antique motor vehicles will not be subject to sales tax, overriding any conflicting laws. Additionally, it amends existing law regarding the fees for special license plates for antique vehicles, increasing the one-time fee from $25 to $1,000 for those vehicles that qualify for the sales tax exemption.

The provisions of this bill will apply to the sale, registration, or transfer of antique motor vehicles occurring on or after July 1, 2025. The bill retains the existing $25 fee for special license plates for antique vehicles valued at less than $10,000, ensuring that only higher-valued vehicles face the increased fee. The effective date for the bill is set for July 1, 2025, with stipulations for its enactment if vetoed by the governor.

Statutes affected:
HB520 Original: 47:9(D)(36), 47:8(B)(1)