5004                                                    VETOES

Senate Bill No. 84

AN ACT concerning

Vehicle Laws - Excise Tax

FOR the purpose of redefining "fair market value" and "total
purchase price" as used in assessing the motor vehicle
titling excise tax.

BY repealing and reenacting, with amendments,

Article - Transportation

Section 13-809

Annotated Code of Maryland

(1977 Volume and 1981 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
read(s) as follows:

Article - Transportation

13-809.

(a) (1) In this section the following words have the
meanings indicated.

(2) "Fair market value" means:

(i) As to the sale of any new or used
vehicle by a licensed dealer, the total purchase price, as
certified by the dealer;

(ii) As to a used vehicle that is sold by
any person other than a licensed dealer [and that has a
designated model year that is 7 years old or older], the
greater of[;]:

[1. The total purchase price; or

2. $100;]

1. THE VALUATION SHOWN IN A NATIONAL
PUBLICATION OF USED CARE VALUES ADOPTED BY THE MOTOR VEHICLE
ADMINISTRATION FOR ITS USE;