MN SF3679

Imposes a 4 percent surcharge on the "luxury increment" of passenger automobiles, noncommercial vehicles, and recreational vehicles subject to existing motor vehicle sales tax.

Defines "luxury increment" as the vehicle's purchase price minus 200 percent of the average purchase price for that vehicle classification, with any negative amount treated as zero.

Requires the commissioner to revise average purchase prices annually between July 1 and August 31 using previous fiscal year sales data, with revised prices effective October 1 each year.

Surcharge applies in addition to existing taxes under Minnesota Statutes section 297B.02, subdivision 1.

Effective July 1, 2023, for sales and purchases made on or after October 1, 2023.