2022 House Bill 1082 - SD Legislature revise the motor vehicle excise tax on vehicles leased for more than twenty-eight days to include certain off-road vehicles.

ENTITLED An Act to revise the motor vehicle excise tax on vehicles leased for more than twenty-eight days to include certain off-road vehicles.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That   32-5B-1.1 be AMENDED:

32-5B-1.1. For motor vehicles leased for more than twenty   eight days, the lessor shall title and license the motor vehicle and denote the lessee on the application for title. The lessor or the lessee shall pay the motor vehicle excise tax. If the term of the lease is extended or if the vehicle is leased for an additional period of time, the motor vehicle excise tax shall be assessed on the additional lease payments and shall be paid by the lessor. If additional consideration is paid during the course of the lease or upon the termination of the lease, the motor vehicle excise tax shall be assessed upon such amount and paid by the lessor. If a lessee buys the leased vehicle at the end of the lease, excise tax shall be assessed on the purchase prices in    32-5B-4. The lessor shall assign the title to the lessee and shall deliver it to the county treasurer of the applicant's residence, along with an application certifying the price of the vehicle and the required fees and taxes.

A lessee who entered into a lease prior to July 1, 2000, and who paid excise tax based on the purchase price of the vehicle, including the value of the leased vehicle at the end of the lease, shall receive credit for tax previously paid if the lessee purchases the vehicle at the end of the lease.

An off-road vehicle, as defined by    32-3-1 and required to be titled pursuant to    32-20-12 and is titled in this state, that is leased for more than twenty-eight days, is subject to the provisions of this section.

An Act to revise the motor vehicle excise tax on vehicles leased for more than twenty-eight days to include certain off-road vehicles.

I certify that the attached Act originated in the: House as Bill No. 1082 Chief Clerk Speaker of the House Attest: Chief Clerk President of the Senate Attest: Secretary of the Senate House Bill No. 1082 File No. ____ Chapter No. ______

Received at this Executive Office this _____ day of _____________, 2022 at ____________M. By for the Governor The attached Act is hereby approved this ________ day of ______________, A.D., 2022 Governor STATE OF SOUTH DAKOTA, ss. Office of the Secretary of State Filed ____________, 2022 at _________ o'clock __M. Secretary of State By Asst. Secretary of State