Text: SF00070 Text: SF00072 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 321.113, Code 2001, is amended to read 1 2 as follows: 1 3 321.113 AUTOMATIC REDUCTION. 1 4 1. The registration fee for a motor vehicle shall not be 1 5 automatically reduced under this section unless the 1 6 registration fee is based on the value and weight of the motor 1 7 vehicle as provided in section 321.109, subsection 1. 1 8 2.AfterIf a motor vehicle is more than five model years 1 9 old,thatthe part of the registration feewhichthat is based 1 10 on the value of the vehicle shall be:1 11Seventy-fiveseventy-five percent of the rate as fixed when 1 12 the motor vehicle was new;. 1 13 3.AfterIf a motor vehicle is more than six model years 1 14 old, the part of the registration fee that is based on the 1 15 value of the vehicle shall be fifty percent;of the rate as 1 16 fixed when the motor vehicle was new. 1 17After a motor vehicle is more than eight model years old,1 18that part of the registration fee based on the value of the1 19vehicle shall be ten percent. Where the ninth registration1 20fee for a motor vehicle has been computed and fixed by the1 21department prior to July 4, 1949, there shall be added to the1 22registration fee, in lieu of the ten percent provided for1 23herein, one dollar if such registration fee has been computed1 24and fixed at fifteen dollars or less and two dollars if the1 25registration fee has been computed and fixed at more than1 26fifteen dollars.1 27 4. If a 1994 model year or newer motor vehicle is nine 1 28 model years old or older the registration fee is thirty-five 1 29 dollars. For purposes of determining the portion of the 1 30 registration fee under this subsection that is based upon the 1 31 value of the motor vehicle, sixty percent of the registration 1 32 fee is attributable to the value of the vehicle. 1 33 5. a. If a 1993 model year or older motor vehicle has 1 34 been titled in the same person's name since the vehicle was 1 35 new or the title to the vehicle was transferred prior to 2 1 January 1, 2002, the part of the registration fee that is 2 2 based on the value of the vehicle shall be ten percent of the 2 3 rate as fixed when the motor vehicle was new. 2 4 b. If the title of a 1993 or older motor vehicle is 2 5 transferred to a new owner or if such a motor vehicle is 2 6 brought into the state on or after January 1, 2002, the 2 7 registration fee shall not be based on the weight and list 2 8 price of the motor vehicle, but shall be as follows: 2 9 (1) For a motor vehicle that is model year 1969 2 10 or older: 2 11 .................................................. $ 16.00 2 12 (2) For a motor vehicle that is model year 1970 2 13 through 1989: 2 14 .................................................. $ 23.00 2 15 (3) For a motor vehicle that is model year 1990 2 16 through 1993: 2 17 .................................................. $ 27.00 2 18 For purposes of determining the portion of the registration 2 19 fee under this paragraph "b" that is based upon the value of 2 20 the motor vehicle, sixty percent of the registration fee is 2 21 attributable to the value of the vehicle. 2 22 Sec. 2. Section 422.9, subsection 2, paragraph g, Code 2 23 2001, is amended by striking the paragraph and inserting in 2 24 lieu thereof: 2 25 g. To the extent not otherwise included pursuant to 2 26 section 164 of the Internal Revenue Code, add the amount of 2 27 the annual registration fee paid for a motor vehicle pursuant 2 28 to section 321.113, subsection 4, or section 321.113, 2 29 subsection 5, paragraph "b", which is based upon the value of 2 30 the vehicle. For purposes of this paragraph, sixty percent of 2 31 the amount of the registration fee is based upon the value of 2 32 the motor vehicle. 2 33 Sec. 3. EFFECTIVE DATE. This Act takes effect January 1, 2 34 2002. 2 35 EXPLANATION 3 1 This bill amends Code section 321.113, relating to the 3 2 automatic reduction of motor vehicle registration fees for 3 3 motor vehicles that are nine model years old or older. 3 4 Currently, after a motor vehicle is more than eight model 3 5 years old, the part of the registration fee based on the value 3 6 of the vehicle is 10 percent. The bill changes the fees for 3 7 vehicles that are nine model years old or older to flat fees, 3 8 based on the model year of the vehicle. However, to ensure 3 9 that persons owning vehicles that are more than nine model 3 10 years old or older and registered in this state on the 3 11 effective date of the amendment are not subject to a fee 3 12 increase, the bill makes the flat fee schedule inapplicable to 3 13 such vehicles until they are transferred to a new owner. The 3 14 bill also adds provisions to Code sections 321.113 and 422.9 3 15 relating to the deductibility of motor vehicle registration 3 16 fees for state and federal income tax purposes. The bill 3 17 provides that the portion of the applicable flat motor vehicle 3 18 registration fee that is attributable to the value of the 3 19 vehicle for deductibility purposes shall be 60 percent of the 3 20 flat fee. The bill takes effect January 1, 2002. 3 21 LSB 1932SS 79 3 22 nh/pj/5
Text: SF00070 Text: SF00072 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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