Bill > HB520

This bill establishes a state and local sales and use tax exemption for certain antique motor vehicles and modifies the associated license plate fees. Specifically, the bill defines an "antique motor vehicle" as a vehicle that is at least 35 years old, not used for commercial purposes (with an exception for motion picture production), and valued at $10,000 or more. The legislation provides a sales tax exemption for qualifying antique vehicles, meaning these vehicles can be purchased without paying state or local sales taxes. Additionally, the bill changes the licensing fees for these vehicles, setting a one-time fee of $25 for standard antique vehicle plates and $50 for personalized prestige plates starting January 1, 2025. However, for antique vehicles that qualify for the sales tax exemption, the license plate fee will increase to $1,000 beginning July 1, 2025. The bill aims to provide tax relief and special recognition for owners of classic or vintage vehicles while generating additional revenue through higher license plate fees for the most valuable antique vehicles. The provisions will take effect on July 1, 2025, and apply to sales, registrations, and transfers of antique motor vehicles occurring on or after that date.

Budget and Finance

https://www.legis.la.gov/legis/BillInfo.aspx?s=25rs&b=HB520&sbi=y