ROBERT L. EHRLICH, JR., Governor                            S.B. 712

2. If the total purchase price is $500 or more below the retail
value of the vehicle as shown in a national publication of used car values adopted for
use by the Department:

A.      The total purchase price, if verified to the satisfaction of
the Administration by a notarized bill of sale submitted in accordance with subsection
(d)(2) of this section; or

B.      The valuation shown in the national publication of used
car values, if the Administration finds that the documentation submitted under
subsection (d)(2) of this section fails to verify the total purchase price;

(iv) As to the sale of any new or used motor home or travel trailer by
a licensed dealer, or a dealer licensed by another state or a foreign country, the total
purchase price, as defined in paragraph (4)(ii) of this subsection, as certified by the
dealer on a form acceptable to the Administration; and

(v) In any other case, the valuation shown in a national publication
of used car values adopted for use by the Department.

(3)     "Motor home" has the meaning stated in § 11-134.3 of this article.

(4)     "Total purchase price" means:

(i) Except as provided in item (ii) of this paragraph, the price of a
vehicle agreed on by the buyer and the seller, including any dealer processing charge,
with no allowance for trade-in or other nonmonetary consideration; and

(ii) In the case of a motor home or travel trailer, the price of the
motor home or travel trailer agreed on by the buyer and the seller less the value, not
to exceed the value shown in a national publication of used motor home and travel
trailer values adopted for use by the Department, of any motor home or travel trailer
that is traded in as part of the consideration of the sale.

(5)     "Travel trailer" has the meaning stated in § 11-170 of this article.

Chapter 361 of the Acts of 2001

SECTION 3. AND BE IT FURTHER ENACTED, That, notwithstanding the
provisions of Section 1 of this Act, the modified definitions of "fair market value" and
"total purchase price" for the purposes of the calculation of the motor vehicle excise
tax imposed on a motor home or a travel trailer under § 13-809(a) of the
Transportation Article as enacted under Section 1 of this Act do not apply until any
Consolidated Transportation Bonds that were issued by the Department of
Transportation before July 1, 2001 no longer remain outstanding and unpaid;
provided however, that in any fiscal year for which funds are appropriated by the
General Assembly to pay the principal of and interest on the Department of
Transportation's Consolidated Transportation Bonds due and payable in that fiscal
year, the Motor Vehicle Administration shall collect the reduced motor vehicle excise
tax imposed on a motor home or travel trailer by utilizing the modified definitions as
enacted under Section 1 of this Act.

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