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IN HB1035
Bill
Status
1/6/2015
Primary Sponsor
Wes Culver
Click for details
AI Summary
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Prohibits use of seized and forfeited money or property sale proceeds to purchase a passenger motor vehicle valued above the Class XV maximum under motor vehicle excise tax law (currently $30,000-$35,000 range).
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Restriction applies to forfeited property proceeds under IC 34-24-1, federal forfeitures under 18 U.S.C. 981(e), 19 U.S.C. 1616a, and 21 U.S.C. 881(e), and proceeds from public auction sales of seized property.
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Affected statutes include IC 34-24-1 (civil forfeiture procedures), IC 34-24-1-9 (federal property transfer), and IC 35-33-5-5 (seized property disposition).
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Effective date: July 1, 2015.
Legislative Description
Use of proceeds from forfeited property. Provides that: (1) money; or (2) proceeds from the sale of property; that has been seized and forfeited because of its connection to the violation of certain criminal statutes may not be used to purchase a passenger motor vehicle if the value of the motor vehicle is greater than the maximum value of a Class XV vehicle as determined under the law concerning the motor vehicle excise tax. (Under current law, the value of a Class XV vehicle is at least $30,000 but less than $35,000.)
Last Action
Authored by Representative Culver
1/6/2015