WEST virginia legislature

2019 regular session

Introduced

House Bill 2476

By Delegate Westfall, Azinger, Hott, Jeffries, D., Graves, Jennings, Criss, Mandt, Nelson, Espinosa and Porterfield

[Introduced January 17, 2019; Referred
to the Committee on Banking and Insurance then the Judiciary.]

A BILL to amend and reenact §33-6-33 of the Code of West Virginia, 1931, as amended, relating to the valuation of a motor vehicle involved in an insurance claim; deleting the requirement that a cash settlement value involving a claim for motor vehicle loss include an amount equal to the excise tax imposed by statute; and requiring that the cash settlement value include an amount equal to the consumers sales tax applied to the sale of motor vehicles.

Be it enacted by the Legislature of West Virginia:

ARTICLE 6. THE INSURANCE POLICY.

§33-6-33. Valuation of motor vehicle involved in claim.

Insurance companies doing business in this state shall use the most recent version of an “official used car guide” approved by the Insurance Commissioner as a guide for setting the minimum value of any motor vehicle involved in a claim settlement arising from a motor vehicle accident. In addition to any cash settlement value so agreed to by the claimant, there shall be added an amount equal to five percent of the cash settlement value as reimbursement to the claimant for the excise tax imposed under section four, article three, chapter seventeen-a of the Code of West Virginia the consumers sales tax set forth in §11-15-3c (b) of this code, with the cash settlement value representing the total actual sale price of a motor vehicle.

NOTE: The purpose of this bill is with respect to a cash settlement for a motor vehicle loss insurance claim, substitute the requirement that the settlement value include an amount equal to an excise tax imposed for the registration of vehicles with a requirement that the settlement value include an amount equal to the consumers sales tax levied when a vehicle is purchased.  The amendment brings §33-6-33 into conformity with the taxation of motor vehicles, following the repeal of the five percent excise tax and replacement with the consumer sales tax.       

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