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Minutes for SB70 - Committee on Taxation
Short Title
Making exemption permanent for certain cash rebates on sales or leases of new motor vehicles and excluding discounts and coupons from the sales or selling price for sales tax purposes.
Minutes Content for Wed, Mar 24, 2021
Chairperson Smith opened the hearing for SB70.
Adam Siebers provided an overview for SB70 that would make cash rebates paid by a vehicle manufacturer to a purchaser or lessee of a new motor vehicle are excluded from the definition of sales or selling price as used for the calculation of sales tax on vehicles through June 30, 2021. SB70 would make this sales tax exemption permanent.
Kathleen Smith, KDOR provided an overview on the fiscal note for SB70 indicating the bill would decrease state revenues by $6.2 million in FY2022. Of that total, the State General Fund is estimated to decrease by $5.2 million in FY2022, and the State Highway Fund is estimated to decrease by $1.0 million in FY2022.
Proponents:
Don L. McNeely, Kansas Automobile Dealers Association testified as a proponent for SB70. (Attachment 26)
Chairperson Smith closed the hearing on SB70.
Chairperson Smith adjourned the meeting at 5:00 pm.
