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ND SB2360
Bill
Status
Introduced
1/25/2011
Primary Sponsor
John Wall
Click for details
AI Summary
- Amends North Dakota Century Code section 57-40.3-02.1 to include schoolbuses, regardless of weight, in the motor vehicle excise tax for leases of one year or more.
- Applies excise tax to all lease receipts and consideration at initiation and throughout the entire lease term, including renewal options.
- Tax must be collected as of the first payment date under the lease or the vehicle registration date under chapter 39-05.
- Includes average value of similar motor vehicle leases as determined by the department of transportation director when lease is a gift or nominal value agreement.
- Effective for all taxable events occurring after June 30, 2011.
Legislative Description
Motor vehicle excise tax for a schoolbus lease; and to provide an effective date.
Last Action
Second reading, failed to pass, yeas 8 nays 38
2/11/2011
Committee Referrals
Finance and Taxation1/25/2011
Full Bill Text
No bill text available