Bill > HB754

This bill repeals the allowance against the total purchase price of a vehicle for the value of a trade-in vehicle when calculating the vehicle excise tax. Specifically, it removes the language that previously allowed the "total purchase price" to be reduced by the value of a trade-in vehicle. As a result, the vehicle excise tax will now be calculated based on the full purchase price of the vehicle, without any deduction for the trade-in value. The bill would take effect on July 1, 2024 and apply to all vehicle titles and registrations on or after that date.

Budget and Finance

https://mgaleg.maryland.gov/mgawebsite/Legislation/Details/HB0754?ys=2024RS