2778-S AMH COND HAJE 034

SHB 2778 - H AMD TO H AMD (H-4461.1/16) 784

By Representative Condotta

NOT ADOPTED 02/16/2016

    On page 2, line 10, after "up to" strike ”thirty-five" and insert "twenty-seven"

    On page 2, line 29, after "is" strike "not"

    On page 2, beginning on line 30, after "section" strike all material through "more" on line 40

    On page 3, beginning on line 4, after "section" strike all material through "more" on line 15 and insert "on the percentage of each lease payment that corresponds to the amount of the total fair market value of the vehicle being leased in excess of twenty-seven thousand dollars at the inception of the lease divided by the total fair market value of the vehicle being leased at the inception of the lease"

    On page 3, beginning on line 29, strike all of subsection (f)

    On page 4, line 39, after "up to" strike "thirty-five" and insert "twenty-seven"

    On page 5, line 19, after "(1)" strike "(a)"

    On page 5, beginning on line 19, after "section" strike all material through "more" on line 33 and insert "on the portion of the fair market value of the vehicle in excess of twenty-seven thousand dollars or on the percentage of each lease payment that corresponds to the amount of the total fair market value of the vehicle being leased in excess of twenty-seven thousand dollars at the inception of the lease divided by the total fair market value of the vehicle being leased at the inception of the lease"

     On page 6, beginning on line 8, strike all of subsection (d)

EFFECT:   Makes the following changes to the alternative fuel vehicle retail sales and use tax exemption:

(1) Eliminates the price-based and fair market value-based thresholds for alternative fuel vehicle tax exemption qualification.

(2) Lowers the retail sales and use tax exemption cap for all qualifying vehicles to the first $27,000 of the selling price or fair market value of these vehicles.

(3) Removes the inflation adjustment factor that raises the exemption thresholds by $500 at the start of each calendar year beginning in 2017.

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