Comments on this legislation    Post new comment    Text and Analysis    Add to Watch List 
  Previous   Next 

• Introduced by Sen. David Robertson (R) on February 9, 2011, to exempt from sales tax the value of a trade-in on the purchase of a new motor vehicle or titled watercraft. The buyer would only pay tax on the difference between the value of the trade-in and the purchase price of the new item.
  • Referred to the Senate Finance Committee on February 9, 2011.
    • Reported in the Senate on March 3, 2011, with the recommendation that the bill pass.
  • Substitute offered in the Senate on May 15, 2012, to phase-in the tax cut in biannual installments through the end of 2017. The substitute passed by voice vote in the Senate on May 15, 2012.
• Passed 37 to 1 in the Senate on May 15, 2012, to exempt from sales tax the value of a trade-in on the purchase of a new motor vehicle or titled watercraft. The buyer would only pay tax on the difference between the value of the trade-in and the purchase price of the new item. The tax cut would be phased in biannual installments through the end of 2017.
  Who Voted "Yes" and Who Voted "No"
• Received in the House on May 16, 2012.
  • Referred to the House Tax Policy Committee on May 16, 2012.
    • Reported in the House on November 27, 2012, with the recommendation that the substitute (H-2) be adopted and that the bill then pass.