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SF 725

as introduced - 90th Legislature (2017 - 2018) Posted on 02/16/2017 08:50am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to motor vehicles; taxation; modifying a sales tax exemption for certain
passenger automobiles; amending Minnesota Statutes 2016, section 297B.025,
subdivision 1.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2016, section 297B.025, subdivision 1, is amended to read:


Subdivision 1.

Noncollector vehicle.

Purchase or use of a passenger automobile as
defined in section 168.002, subdivision 24, shall be taxed pursuant to section 297B.02,
subdivision 2
, if the passenger automobile (1) is in the tenth or subsequent year of vehicle
life, and (2) does not have a resale value of deleted text begin $3,000deleted text end new text begin $5,000new text end or more, as determined using
nationally recognized sources of information on automobile resale values, as designated by
the registrar of motor vehicles.

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective July 1, 2017, and applies to sales and
purchases on or after that date.
new text end