HOUSE BILL 198

Sponsored By:

Delegates Frank and Dewberry

Entitled:

Motor Vehicle Titling Tax - Exercise of Option to Purchase Under Vehicle Leasing Agreement

Synopsis:

Exempting from the motor vehicle titling tax a vehicle titled in this State that is transferred to a lessee who exercises an option under a vehicle lease to purchase the leased vehicle at the end of the lease; and applying the Act to any vehicle transferred on or after July 1, 1998.

History by Legislative Date

House Action

1/22

First Reading Ways and Means

1/28

Hearing 2/12 at 2:00 p.m.

3/12

Unfavorable Report by Ways and Means

Senate Action

No Action

Sponsored by:

Delegate Robert L. Frank, District 11

Delegate Thomas E. Dewberry, District 47B

Bill indexed under the following Subjects:

LEASES AND RENT -see also- EVICTION

MOTOR VEHICLES -see also- ABANDONED VEH; OFF-RD. VEH.; TRUCK

REVENUE AND TAXES -see also specific taxes -

Bill affects the following Statute:

Transportation

( 13-810 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled

Fiscal Note: Available (PDF)

Amendments: None offered