HB 485 Summary

• Increases the rental motor vehicle surcharge tax by $0.50 per year, starting January 1, 2022, continuing annually through December 31, 2027, raising from the base of $5 per day.

• Expands tax exemptions to include vehicles that have been stolen and are unrecovered or will not be repaired due to total loss, in addition to the existing exemption for vehicles being repaired.

• Requires lessors to maintain records of stolen vehicle reports or total loss vehicle claims for two years for verification purposes, similar to existing repair order documentation requirements.

• Requires lessors to disclose to the department which county the motor vehicle was operated in under rental or lease.