HB 1141
provide an additional means of determining the purchase price of a used motor vehicle acquired by gift or other transfer.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill changes how the purchase price of a used motor vehicle is determined when it’s received as a gift or other transfer for no or nominal consideration. Currently, the value is based on the dealer’s trade-in value or a nationally recognized dealer’s guide. This bill establishes that the manufacturer’s suggested retail price or the actual purchase price documented on a bill of sale should be used instead, providing a clearer method for calculating the vehicle’s value in these specific circumstances.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Tim Goodwin
Cosponsors
Aaron Aylward
Heather Baxter
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