exempt

        (REPRINTED WITH ADOPTED AMENDMENTS)

 

Assembly Bill No. 460–Assemblyman Parks

 

March 19, 2001

____________

 

Referred to Committee on Transportation

 

SUMMARY—Revises provisions governing remittance of fees collected by short-term lessors of passenger cars to department of taxation. (BDR 43‑589)

 

FISCAL NOTE:                     Effect on Local Government: No.

                                    Effect on the State: Yes.

 

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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 motor vehicles; revising provisions governing the remittance of fees by short-term lessors of passenger cars to the department of taxation; 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 482.313 is hereby amended to read as follows:

1-2    482.313  1.  Upon the lease of a passenger car by a short-term lessor

1-3  in this state, the short-term lessor shall charge and collect from the short-

1-4  term lessee a fee of 6 percent of the total amount for which the passenger

1-5  car was leased, excluding any taxes or other fees imposed by a

1-6  governmental entity. The amount of the fee must be indicated in the lease

1-7  agreement.

1-8    2.  On or before [January 31 of each year,] the last day of the month

1-9  following each calendar quarter, the short-term lessor shall:

1-10    (a) File with the department of taxation and the department of motor

1-11  vehicles and public safety, on a form prescribed by the department of

1-12  taxation, a report indicating the total amount of:

1-13      (1) Fees collected by the short-term lessor during the immediately

1-14  preceding [year] calendar quarter pursuant to this section; and

1-15      (2) Vehicle licensing fees and taxes paid by the short-term lessor

1-16  during the immediately preceding [year] calendar quarter pursuant to this

1-17  chapter.

1-18    (b) [Remit] Except for the amount of money withheld pursuant to

1-19  subsection 3, remit to the department of taxation[:

1-20      (1) One-third of] the fees collected by the short-term lessor during the

1-21  immediately preceding [year] calendar quarter pursuant to this section . [;

1-22  and

1-23      (2) Of the remainder of those fees, any amount in excess of]

2-1    3.  A short-term lessor may deduct and withhold from the total fees

2-2  otherwise due from him an amount equal to the total amount of vehicle

2-3  licensing fees and taxes paid by the short-term lessor during the

2-4  immediately preceding [year] calendar quarter pursuant to this chapter[.

2-5    3.] , except that the total amount deducted and withheld by a single

2-6  short-term lessor each calendar quarter must not exceed $25,000. For

2-7  the purposes of this subsection, a short-term lessor and all of its

2-8  subsidiaries and affiliates that share any common ownership shall be

2-9  deemed to constitute a single short-term lessor.

2-10    4.  The department of taxation shall deposit all money received from

2-11  short-term lessors pursuant to the provisions of this section with the state

2-12  treasurer for credit to the state general fund.

2-13    [4.] 5.  To ensure compliance with this section, the department of

2-14  taxation may audit the records of a short-term lessor.

2-15    [5.] 6.  The provisions of this section do not limit or affect the payment

2-16  of any taxes or fees imposed pursuant to the provisions of this chapter.

2-17    [6.] 7.  The department of motor vehicles and public safety shall, upon

2-18  request, provide to the department of taxation any information in its

2-19  records relating to a short-term lessor that the department of taxation

2-20  considers necessary to collect the fee required by this section.

2-21    [7.] 8.  As used in this section, “vehicle licensing fees and taxes”

2-22  means:

2-23    (a) The fees paid by a short-term lessor for the registration of, and the

2-24  issuance of certificates of title for, the passenger cars leased by him; and

2-25    (b) The basic and supplemental governmental services taxes paid by the

2-26  short-term lessor with regard to those passenger cars.

2-27    Sec. 2. This act becomes effective on January 1, 2002.

 

2-28  H