Assembly Bill No. 420–Assemblymen Gustavson,
Angle, Beers and Gibbons

 

March 19, 2001

____________

 

Referred to Committee on Taxation

 

SUMMARY—Repeals basic privilege tax for vehicles in prospective increments. (BDR 32‑544)

 

FISCAL NOTE:            Effect on Local Government: Yes.

                                    Effect on the State: No.

 

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EXPLANATION – Matter in bolded italics is new; matter between brackets [omitted material] is material to be omitted.

 

AN ACT relating to taxation; providing in skeleton form for the repeal of the basic privilege tax for vehicles in prospective increments; and providing other matters properly relating thereto.

 

THE PEOPLE OF THE STATE OF NEVADA, REPRESENTED IN

SENATE AND ASSEMBLY, DO ENACT AS FOLLOWS:

 

1-1    Section 1. NRS 371.040 is hereby amended to read as follows:

1-2    371.040  The annual amount of the basic privilege tax throughout the

1-3  state is [4] 3 cents on each $1 of valuation of the vehicle as determined by

1-4  the department.

1-5    Sec. 2.  NRS 371.040 is hereby amended to read as follows:

1-6    371.040  The annual amount of the basic privilege tax throughout the

1-7  state is [3] 2 cents on each $1 of valuation of the vehicle as determined by

1-8  the department.

1-9    Sec. 3.  NRS 371.040 is hereby amended to read as follows:

1-10    371.040  The annual amount of the basic privilege tax throughout the

1-11  state is [2 cents] 1 cent on each $1 of valuation of the vehicle as

1-12  determined by the department.

1-13    Sec. 4.  NRS 371.040 is hereby repealed.

1-14    Sec. 5.  1.  This section and section 1 of this act become effective on

1-15  July 1, 2002.

1-16    2.  Section 2 of this act becomes effective on July 1, 2003.

1-17    3.  Section 3 of this act becomes effective on July 1, 2004.

1-18    4.  Section 4 of this act becomes effective on July 1, 2005.

 

2-1  TEXT OF REPEALED SECTION

 

2-2    371.040  Annual amount of basic privilege tax. The annual amount

2-3   of the basic privilege tax throughout the state is 1 cent on each $1 of

2-4   valuation of the vehicle as determined by the department.

 

2-5  H