Engrossed Version
House Bill 2692 History
OTHER VERSIONS -
Introduced Version
|
| Email
Key: Green = existing Code. Red = new code to be enacted
ENGROSSED
H. B. 2692
(By Delegates Stalnaker, Varner and Beane)
[Introduced January 27, 2003; referred to the
Committee on the Judiciary then Finance.]
A BILL amend and reenact §11-6C-1 of the code of West Virginia,
1931, as amended, relating to appraising of dealer inventory
and including motorboat inventory sold by motorboat retailers
within the scope of the section.
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:
ARTICLE 6C. SPECIAL METHOD FOR APPRAISING DEALER VEHICLE
INVENTORY.
§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 motorboats, as that term is defined in subdivision
two, section eleven, article seven, chapter twenty, and subdivision
twenty-four, subsection (a), section one, article six, chapter
seventeen-a of this code, sold by motorboat 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 motorboat inventory".