SD HB1141

Amends § 32-5B-4 to allow used motor vehicles acquired by gift or transfer for no/nominal consideration to have their purchase price determined by either: (a) retail value from a nationally recognized dealers' guide, or (b) actual purchase price documented by a bill of sale furnished by the secretary

New motor vehicles acquired by gift or transfer will continue to use manufacturer's suggested dealer list price for excise tax purposes

Creates a separate subsection (5) specifically for used vehicles acquired by gift/transfer, separating them from the existing provision that covered both new and used vehicles

Updates cross-references in §§ 32-5B-21, 32-5B-22, and 32-5B-24 to reflect the renumbering of subsections from (7) to (8) and corrects "ratings" to "rating"

Removes "of revenue" from the phrase "secretary of revenue" in one instance, making it simply "secretary"