2011 Senate Bill 126

Vehicle trade-in “use tax on the difference” only

Introduced in the Senate

Feb. 9, 2011

Introduced by Sen. David Robertson (R-26)

To exempt from use 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 Committee on Finance

March 3, 2011

Reported without amendment

With the recommendation that the bill pass.

May 15, 2012

Passed in the Senate 37 to 1 (details)

Received in the House

May 16, 2012

Referred to the Committee on Tax Policy