Senate Bill 860 Summary

• Exempts vehicles sold by manufacturers directly to State agencies, units of local government, volunteer fire departments, or volunteer rescue squads (when meeting federal government contract specifications) from odometer mileage report requirements under G.S. 20-347(d).

• Establishes that the retail value for excise tax purposes of vehicles sold by manufacturers to State agencies, local governments, volunteer fire departments, or volunteer rescue squads is the actual sales price paid by the purchaser, rather than market value.

• Aligns with existing provisions for vehicles transferred by State agencies assisting the U.S. Department of Defense, which also use the actual sales price paid as retail value for tax purposes.

• Effective upon enactment into law.