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ND SB2363
Bill
Status
3/31/2015
Primary Sponsor
Jim Dotzenrod
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AI Summary
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Amends North Dakota Century Code section 57-40.3-04(5) to add "grandparent and grandchild" as a qualifying relationship for motor vehicle excise tax exemptions on gifted vehicles.
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Expands exemptions to include transfers of motor vehicles without monetary consideration from a revocable living trust to the trustor or to the spouse, child, or sibling of the trustor.
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Maintains existing exemptions for motor vehicle transfers between spouses, parents and children, and siblings, including transfers into trusts where the trustor and beneficiary occupy these relationships.
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Effective for taxable events occurring after June 30, 2015.
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Passed the Senate 46-0 (1 absent) and the House 89-1 (4 absent).
Legislative Description
A motor vehicle excise tax exemption for transfer of a motor vehicle without consideration from grandparent to grandchild; and to provide an effective date.
Last Action
Signed by Governor 03/30
3/31/2015