ND HB1196

Amends the definition of "purchase price" for motor vehicle excise tax purposes to exclude manufacturer's incentives or discounts that reduce the amount paid by the purchaser at the time of purchase.

Creates new section 57-40.3-01.1 establishing detailed rules for purchase price adjustments including trade-in allowances, stolen or destroyed vehicle credits, and dealer replacement vehicle provisions.

Allows purchasers of replacement vehicles to claim a credit against the purchase price not to exceed the total amount received for the sale of the vehicle being replaced, with documentation requirements within three years.

For vehicles stolen or totally destroyed, limits insurance compensation credits to the amount of insurance compensation received (or total excise tax paid for leased vehicles), requiring notarized insurance statements within three years.

Effective for all motor vehicle purchases occurring after June 30, 2019.