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ROBERT L. EHRLICH, JR., Governor
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Ch. 73
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CHAPTER 73
(Senate Bill 316)
AN ACT concerning
Department of Natural Resources - Vessel Excise Tax - Principal Use
FOR the purpose of providing that the vessel excise tax is levied on a vessel used
principally in this State; repealing a certain requirement for imposition of the
vessel excise tax; providing that certain active duty military personnel are
exempt from the vessel excise tax for a certain period of time; making this Act
an emergency measure; and generally relating to the assessment of the vessel
excise tax.
BY repealing and reenacting, with amendments,
Article - Natural Resources
Section 8-716(e) 8-716
Annotated Code of Maryland
(2000 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Natural Resources
8-716.
(a) (1) In this section the following words have the meanings indicated.
(2) "Commissioning procedures" means the initial outfitting of a vessel
immediately after the purchase of the vessel, including the installation of rigging,
electronic gear, propulsion machinery, generators, or other related gear.
(3) "Fair market value" means:
(i) As to the sale of any vessel by a licensed dealer or a dealer
licensed by another state or a foreign country, the total purchase price, as certified by
the dealer on a form acceptable to the Department, less the value of any vessel that is
traded in as part of the consideration for the sale, which trade-in value may not
exceed the value for the trade-in vessel as shown in a national publication of used
vessel values adopted by the Department;
(ii) As to any other vessel that is sold by any person other than a
licensed dealer, the greater of:
1. The total purchase price; or
2. $100; or
(iii) As to any other vessel that is sold by any person other than a
licensed dealer, either:
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