Source: http://www.wvlegislature.gov/bill_status/bills_text.cfm?billdoc=sb388%20intr.htm&yr=2009&sesstype=RS&i=388
Timestamp: 2018-01-20 13:50:10
Document Index: 349547393

Matched Legal Cases: ['§11', '§11', '§11', '§11', '§11', '§11', '§11', '§11', '§11']

(By Senators Hall and White)
[Introduced February 26, 2009; referred to the Committee on Transportation and Infrastructure; and then to the Committee on Finance.]
A BILL to amend and reenact §11-15-3c of the Code of West Virginia, 1931, as amended; to amend said code by adding thereto a new section, designated §11-15-9m; and to amend said code by adding thereto a new section, designated §11-21-9b, all relating to providing a full tax deduction for the purchase of a new automobile in the tax year 2009; providing an exemption from the sales tax for the purchase of a new vehicle in the tax year 2009; and providing a sales tax holiday for fuel- efficient vehicles every year after 2009.
That §11-15-3c of the Code of West Virginia, 1931, as amended, be amended and reenacted; that said code be amended by adding thereto a new section, designated §11-15-9m; and that said code be amended by adding thereto a new section, designated §11-21-9b, all to read as follows:
(g) Division of Motor Vehicles to collect.-- Notwithstanding any provision of this article, article fifteen-a, and article ten of this chapter to the contrary, the Division of Motor Vehicles shall collect the tax imposed by this section: Provided, That such tax is imposed upon the monthly payments for the lease of any motor vehicle leased by a resident of West Virginia, which tax is equal to five percent of the amount of the monthly payment, applied to each payment, and continuing for the entire term of the initial lease period. The tax shall be remitted to the Division of Motor Vehicles on a monthly basis by the lessor of the vehicle.
(i) Legislative rules; emergency rules. -- Notwithstanding any provision of this article, article fifteen-a, and article ten to the contrary, the Commissioner of Motor Vehicles shall promulgate legislative rules explaining and implementing this section, which rules shall be promulgated in accordance with the provisions of article three, chapter twenty-nine-a of this code and should include a minimum taxable value and set forth instances when a vehicle is to be taxed at fair market value rather than its purchase price. The authority to promulgate rules includes authority to amend or repeal those rules. If proposed legislative rules for this section are filed in the State Register before June 15, 2008, those rules may be promulgated as emergency legislative rules, as provided in article three of said chapter.
§11-15-9m. Annual exemption for purchase of fuel efficient vehicles.
There is established an annual sales tax holiday on the sale of fuel efficient vehicles from the taxes imposed by this article if:
(1) The sale takes place in every calendar year during a period beginning at 12:01 a.m. eastern daylight time on September 1 and ending at 11:59 p.m. eastern daylight time on September 14; and
(2) Are labeled by manufacturers as hybrid vehicles or are within the upper third of the United States Department of Energy's fuel economy and annual fuel cost ranges for its specific vehicle class.
NOTE: The purpose of this bill is to provide a full tax deduction for the purchase of a new automobile in the tax year 2009; providing an exemption from the sales tax for the purchase of a new vehicle in the tax year 2009; and providing a sales tax holiday for fuel efficient vehicles every year after 2009.
§11-15-9m and §11-21-9b are new; therefore, strike-throughs and underscoring have been omitted.