Bill: HB 2627, 87(R) - 2021

Committee

House Ways & Means

Vote Recommendation

Vote Recommendation Economic Freedom Property Rights Personal Responsibility Limited Government Individual Liberty
Neutral Neutral Neutral Neutral Neutral Neutral

Author(s)

Shawn Thierry

Bill Caption

Relating to the clarification of certain provisions regarding taxes imposed on the sale, rental, and use of motor vehicles. 

Fiscal Notes

No fiscal implication to the State is anticipated.

Bill Analysis

Under current law a person in the business of selling, renting, or leasing motor vehicles may take a fair market value tax deduction when purchasing a replacement vehicle. HB 2627 would clarify that the fair market value deduction only applies when both the retired vehicle and the replacement vehicle are titled and used in this state.

Vote Recommendation Notes

HB 2627 does not touch on any liberty principles so Texas Action remains neutral. 


Source URL (retrieved on 03/29/2024 01:03 AM): http://reports.texasaction.com/bill/87r/hb2627?print_view=true