Motor vehicle registration tax modified, and money transferred.

Summary

The bill lowers the percentage of a car’s manufacturer‑suggested price used to calculate the passenger‑automobile registration tax and sets a declining schedule for those percentages over the first ten years of a vehicle’s life. It also directs the commissioner to compute any gap between projected and actual tax revenue and move that amount from the general fund to the highway user tax distribution fund each year beginning in 2027. The changes affect vehicle owners, state revenue, and highway‑fund financing.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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