Bill Text: TX SB371 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to the manner in which the tax on the even exchange of motor vehicles is applied.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-02-13 - Referred to s/c on Fiscal Matters by Chair [SB371 Detail]
Download: Texas-2013-SB371-Introduced.html
83R2073 BEF-D | ||
By: Lucio | S.B. No. 371 |
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relating to the manner in which the tax on the even exchange of | ||
motor vehicles is applied. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 152.024, Tax Code, is amended by | ||
amending Subsection (a) and adding Subsection (d) to read as | ||
follows: | ||
(a) A tax is imposed on each party to a transaction | ||
involving the even exchange of two motor vehicles. A transaction | ||
involving the exchange of two motor vehicles is considered an even | ||
exchange only if the difference in the values of the vehicles, as | ||
determined under Subsection (d), is less than or equal to $80. | ||
(d) For purposes of this section, the value of a motor | ||
vehicle involved in an exchange is: | ||
(1) the standard presumptive value of the vehicle as | ||
defined by Section 152.0412(a), unless the person applying for | ||
transfer of title establishes the valuation under Subdivision (2); | ||
or | ||
(2) the valuation of the vehicle under Section | ||
152.0412(d) if the person applying for transfer of title | ||
establishes the valuation in the manner provided by that section. | ||
SECTION 2. Section 152.0412(g), Tax Code, is amended to | ||
read as follows: | ||
(g) This section does not apply to a transaction described | ||
by Section 152.024, except as provided by Subsection (d) of that | ||
section, or Section 152.025. | ||
SECTION 3. Section 152.024, Tax Code, as amended by this | ||
Act, applies only to an exchange of motor vehicles with respect to | ||
which a person applies for a transfer of title on or after the | ||
effective date of this Act. An exchange of motor vehicles with | ||
respect to which a person applies for a transfer of title before the | ||
effective date of this Act is governed by the law in effect on the | ||
date the application for transfer of title is made, and the former | ||
law is continued in effect for that purpose. | ||
SECTION 4. The change in law made by this Act does not | ||
affect tax liability accruing before the effective date of this | ||
Act. That liability continues in effect as if this Act had not been | ||
enacted, and the former law is continued in effect for the | ||
collection of taxes due and for civil and criminal enforcement of | ||
the liability for those taxes. | ||
SECTION 5. This Act takes effect September 1, 2013. |