SPONSOR: Terry
This bill defines the terms "qualified amount" and "qualified purchaser" and specifies that beginning October 1, 2024, and ending September 30, 2025, the Department of Revenue may accept applications to establish payment plans from qualified purchasers to pay for a qualified amount. The Department is encouraged to work with the qualified purchaser to establish an equitable plan that isn't overly burdensome, taking into consideration the qualified purchaser's income and any other financial obligations.
The bill allows a qualified purchaser to apply for a payment plan on or before September 30, 2025. The Department must review all applications received in a timely manner and to contact all qualifying applicants to provide them with an opportunity to establish a payment plan before December 31, 2025. After entering into a payment plan, the qualified purchaser is required to make a down payment equal to one month's payment before the Department will issue a new temporary permit.
The bill authorizes the Department to establish protocols such as how payments are to be processed, how updated payment counts will be made accessible to the qualified purchaser, and what forms or documents the qualified purchaser will need to carry in his or her motor vehicle for presentation to law enforcement during motor vehicle stops or other entities requesting verification of the payment plan status.
For the period beginning October 1, 2024, and ending December 31, 2025, this bill grants discretionary authority to the Director of the Department of Revenue to issue a temporary permit to an individual who establishes a payment plan with the Department.
The provisions of the motor vehicle sales tax payment plan shall automatically sunset December 31st one year after the effective date.
This bill is similar to HB 1350 (2023).
Statutes affected: