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Introduced Version House Bill 2327 History

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H. B. 2327

(By Delegates Stalnaker, Varner and Beane)
February 14, 2005 ; referred to the
Committee on the Judiciary then Finance.]

A BILL to amend and reenact §11-6C-1 of the Code of West Virginia, 1931, as amended, relating to including boat retailers in the special method for appraising dealer vehicle inventory.

Be it enacted by the Legislature of West Virginia:
That §11-6C-1 of the Code of West Virginia, 1931, as amended, be amended and reenacted to read as follows:

§11-6C-1. Inventory included within scope of article.
Notwithstanding any other provisions of law, inventory of vehicles, as that term is defined in section one, article one, chapter seventeen-b of this code, that is held for sale or lease by new or used vehicle dealers licensed under the provisions of article six, chapter seventeen-a of this code, provided that house trailers and factory-built homes shall be included within the scope of this article, consisting of individual units of personal new or used property, each unit of which, upon its sale to a retail purchaser, must, as a matter of law, be titled in the name of the retail purchaser and registered with the Division of Motor Vehicles, shall be appraised for assessment purposes, as set forth in this article. Inventory, as used in this article, includes inventory of boats sold by boat retailers.
This article does not apply to units of inventory which are included in fleet sales, transactions between dealers or classified as heavy duty trucks of sixteen thousand pounds or more gross vehicular weight. For purposes of this article, inventory subject to the provisions of this article shall be denoted "dealer vehicle inventory" and "dealer boat inventory".

NOTE: The purpose of this bill is to include boat retailers in the special method for appraising dealer vehicle inventory.

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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