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A BILL TO BE ENTITLED
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AN ACT
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relating to the manner in which the tax on the even exchange of |
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motor vehicles is applied. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 152.024, Tax Code, is amended by |
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amending Subsection (a) and adding Subsection (d) to read as |
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follows: |
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(a) A tax is imposed on each party to a transaction |
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involving the even exchange of two motor vehicles. A transaction |
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involving the exchange of two motor vehicles is considered an even |
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exchange only if the difference in the values of the vehicles, as |
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determined under Subsection (d), is less than or equal to $80. |
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(d) For purposes of this section, the value of a motor |
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vehicle involved in an exchange is: |
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(1) the standard presumptive value of the vehicle as |
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defined by Section 152.0412(a), unless the person applying for |
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transfer of title establishes the valuation under Subdivision (2); |
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or |
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(2) the valuation of the vehicle under Section |
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152.0412(d) if the person applying for transfer of title |
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establishes the valuation in the manner provided by that section. |
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SECTION 2. Section 152.0412(g), Tax Code, is amended to |
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read as follows: |
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(g) This section does not apply to a transaction described |
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by Section 152.024, except as provided by Subsection (d) of that |
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section, or Section 152.025. |
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SECTION 3. Section 152.024, Tax Code, as amended by this |
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Act, applies only to an exchange of motor vehicles with respect to |
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which a person applies for a transfer of title on or after the |
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effective date of this Act. An exchange of motor vehicles with |
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respect to which a person applies for a transfer of title before the |
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effective date of this Act is governed by the law in effect on the |
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date the application for transfer of title is made, and the former |
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law is continued in effect for that purpose. |
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SECTION 4. The change in law made by this Act does not |
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affect tax liability accruing before the effective date of this |
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Act. That liability continues in effect as if this Act had not been |
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enacted, and the former law is continued in effect for the |
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collection of taxes due and for civil and criminal enforcement of |
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the liability for those taxes. |
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SECTION 5. This Act takes effect September 1, 2013. |