MN SF3497

Changes the motor vehicle registration tax calculation from using "base value" to using the manufacturer's suggested retail price (MSRP) for passenger automobiles and hearses.

Excludes destination charges from the MSRP calculation for vehicles registered on or after January 1, 2020, but allows destination charges to be included for vehicles registered before that date.

Excludes the cost of accessories and optional equipment from the registration tax calculation.

Allows licensed dealers to individually determine the MSRP for first-time vehicle registrations and requires them to retain supporting manufacturer documentation.

Establishes effective dates of January 1, 2021, for most changes and July 1, 2020, for provisions regarding tax adjustment procedures and error correction authority.