Bill > S343

This bill modernizes boat registration and marine vessel taxation by establishing a new excise tax on vessels, which is a tax levied on the privilege of using the waterways, set at $10 per $1,000 of valuation. Owners of vessels on July 1st must file a return by September 1st with their local tax assessors, detailing the vessel's location and registration. The bill also introduces a tiered valuation system for vessels based on length and age, and clarifies that paying this excise tax exempts the vessel from other property taxes. It outlines procedures for late filings, abatements (reductions in tax), and specifies that the excise is assessed where the vessel is habitually moored or docked, or principally situated if it has no mooring. Importantly, the bill mandates that registration decals or certificates for vessels will not be issued or renewed unless proof of payment for the prior year's excise tax is provided, and failure to pay can result in penalties and the harbormaster refusing to allow the vessel to be moored or docked. Additionally, the bill requires the director of the division of law enforcement to provide lists of registered and documented vessels to local assessors to aid in tax assessment, and extends this information sharing to motorboat registration data. This act applies to excises assessed for fiscal years beginning on or after July 1, 2016.