MN SF3923

Reduces the motor vehicle registration tax rate for vehicles initially registered in Minnesota before November 16, 2020 from 1.54% to 1.145% of the manufacturer's suggested retail price

Reduces the registration tax rate for vehicles initially registered on or after November 16, 2020 from 1.575% to 1.18% of MSRP

Maintains the existing depreciation schedule where the tax is calculated on 100% of MSRP in year one, declining to 10% by year ten, with a flat $20 calculation for vehicles 11 years and older

Effective the day following final enactment, applying to registration periods starting on or after January 1, 2027