HB1514 Summary

• Amends the State Finance Act to redirect sales tax revenue from motor vehicle sales based on vehicle titling and registration addresses, effective July 1, 2024.

• Money from the Local Government Tax Fund derived from motor vehicle sales taxes shall be distributed to the municipality where the vehicle is titled or registered, or to the county if in an unincorporated area.

• Money from the County and Mass Transit District Fund derived from motor vehicle sales taxes in counties with more than 3,000,000 inhabitants shall be distributed to the Regional Transportation Authority tax fund instead of the county.

• For counties with 3,000,000 or fewer inhabitants, motor vehicle sales tax revenue shall be distributed to municipalities (if titled there) or counties (if titled in unincorporated areas).