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House Bill 6

Actions | Amendments

Last Action	03/10/22: signed by Governor (Acts Ch. 13)
Title	AN ACT relating to the valuation of motor vehicles for property tax purposes and declaring an emergency.
Bill Documents	Acts Chapter 13 Current/Final Introduced
Fiscal Impact Statements	Fiscal Note Local Mandate Additional Fiscal Impact Statements Exist
Bill Request Number	1376
Sponsors	S. Santoro, P. Flannery, K. Banta, A. Bowling, K. Bratcher, J. Bray, J. Calloway, J. Decker, M. Dossett, R. Dotson, J. DuPlessis, D. Elliott, D. Fister, K. Fleming, D. Frazier Gordon, C. Freeland, C. Fugate, A. Gentry, J. Gooch Jr., D. Hale, M. Hart, A. Hatton, S. Heavrin, R. Huff, T. Huff, M. Imes, K. King, N. Kirk-McCormick, W. Lawrence, D. Lewis, M. Lockett, C. Massey, B. McCool, S. Miles, C. Miller, D. Osborne, R. Palumbo, P. Pratt, M. Prunty, F. Rabourn, B. Reed, S. Riley, B. Rowland, S. Rudy, S. Sharp, S. Sheldon, T. Smith, W. Thomas, J. Tipton, R. Webber
Summary of Original Version	Amend KRS 132.485 to require the average trade-in value and not the rough trade-in value or clean trade-in value be used as the standard value of a motor vehicle for property tax purposes; grant tax refunds for tax overpayments; require posting of the tax refund information; apply to motor vehicles assessed or after January 1, 2022; RETROACTIVE; EMERGENCY.
Index Headings of Original Version	County Clerks - Property tax, motor vehicle valuation standards, refund information, posting requirement Effective Dates, Emergency - Motor vehicle valuation standards, average trade-in value requirement Motor Vehicles - Property tax, motor vehicle valuation standards, average trade-in requirement Property Valuation Administrators - Property tax, motor vehicle valuation standards, refund information, posting requirement State Agencies - Department of Revenue, motor vehicle property tax, refund information, posting requirement Taxation - Property tax, motor vehicle valuation standards, average trade-in requirement Taxation, Property - Motor vehicle valuation standards, average trade-in value requirement Retroactive Legislation - Motor vehicle property tax valuation standards, January 1, 2022 Local Mandate - Property tax, motor vehicle valuation standards, refund information, posting requirement Fiscal Note - Department of Revenue, motor vehicle property tax, refund information
Jump to Proposed Amendments	House Committee Substitute 1 with Fiscal Impact Statements Senate Committee Substitute 1 with Fiscal Impact Statements
Votes	Vote History

Actions

Top | Amendments

01/10/22	introduced in House to Committee on Committees (H)
02/02/22	taken from Committee on Committees (H) 1st reading returned to Committee on Committees (H)
02/03/22	to Appropriations & Revenue (H)
02/08/22	reported favorably, 2nd reading, to Rules with Committee Substitute (1) posted for passage in the Regular Orders of the Day for Wednesday, February 09, 2022
02/09/22	3rd reading, passed 95-0 with Committee Substitute (1)
02/10/22	received in Senate to Committee on Committees (S)
02/14/22	to Appropriations & Revenue (S)
02/15/22	taken from Appropriations & Revenue (S) 1st reading returned to Appropriations & Revenue (S)
02/16/22	taken from Appropriations & Revenue (S) 2nd reading returned to Appropriations & Revenue (S)
03/02/22	reported favorably, to Rules with Committee Substitute (1) posted for passage in the Regular Orders of the Day for Wednesday, March 02, 2022 3rd reading, passed 34-0 with Committee Substitute (1)
03/03/22	received in House to Rules (H)
03/04/22	posted for passage for concurrence in Senate Committee Substitute (1) House concurred in Senate Committee Substitute (1) passed 91-0 enrolled, signed by Speaker of the House
03/07/22	enrolled, signed by President of the Senate delivered to Governor
03/10/22	signed by Governor (Acts Ch. 13)

Proposed Amendments

Top | Actions

Amendment	House Committee Substitute 1
Fiscal Impact Statements	Fiscal Note to House Committee Substitute 1 Local Mandate to House Committee Substitute 1
Summary	Retain original requirement that the average trade-in value and not the rough trade-in value or clean trade-in value be used as the standard value of a motor vehicle for property tax purposes; amend KRS 132.485 to allow the property valuation administrator (PVA) to adjust a motor vehicle's value; create a new section of KRS Chapter 132 to exempt a portion of property taxes assessed for the January 1, 2022, assessment date; mandate refunds for overpayments; provide that the trade-in value requirement and PVA adjustment apply to assessment's on or after January 1, 2023; RETROACTIVE; EMERGENCY.
Index Headings	County Clerks - Property tax exemption, motor vehicles, refunds granted Effective Dates, Emergency - Motor vehicle valuation standards, average trade-in value requirement, property tax exemption Motor Vehicles - Property tax, motor vehicle valuation standards, average trade-in requirement Property Valuation Administrators - Property tax, motor vehicle valuation standards, average trade-in requirement State Agencies - Department of Revenue, motor vehicle property tax, valuation standards, tax exemption Taxation - Property tax, motor vehicle valuation standards, tax exemption Taxation, Property - Motor vehicle valuation standards, tax exemption Retroactive Legislation - Motor vehicle property tax exemption, January 1, 2022 Fiscal Note - Department of Revenue, motor vehicle property tax, valuation standards, tax exemption

Amendment	Senate Committee Substitute 1
Fiscal Impact Statement	Local Mandate to Senate Committee Substitute 1
Summary	Retain original requirements; create a new section of KRS Chapter 132 to exempt a portion of property taxes assessed for the January 1, 2022, and January 1, 2023, assessment dates; mandate that the Department of Revenue and county clerks work together to establish procedures for refunds; provide that the trade-in value requirement and PVA adjustment apply to vehicles assessed on or after January 1, 2024; RETROACTIVE; EMERGENCY.
Index Headings	County Clerks - Motor vehicle valuation, property tax exemption, refunds Effective Dates, Emergency - Motor vehicle valuation, property tax exemption, refunds Motor Vehicles - Assessed valuation, property tax exemption, refunds Property Valuation Administrators - Motor vehicle valuation, property tax exemption, refunds State Agencies - Department of Revenue, motor vehicle valuation, property tax exemption, refunds Taxation - Property tax, motor vehicle valuation, exemption Taxation, Property - Motor vehicle valuation, exemption Retroactive Legislation - Motor vehicle property tax exemption, January 1, 2022 Local Mandate - Motor vehicle valuation, property tax exemption, refunds

Last updated: 2/8/2023 2:57 PM (EST)