Senate Bill No. 95
(By Senators Ross, Anderson, Buckalew, Wooton, Bowman, Deem, Dittmar, Grubb,
Miller, Oliverio, Schoonover, Scott and Wagner)
[Originating in the Committee on the Judiciary;
reported January 18, 1996.]
A BILL to amend and reenact sections one and five, article six-c, chapter eleven of
the code of West Virginia, one thousand nine hundred thirty-one, as amended, all
relating to the special method for appraising dealer vehicle inventory; making
technical revisions to clarify appropriate code reference; and extending date by
which tax commissioner reports to the joint committee on government and finance.
Be it enacted by the Legislature of West Virginia:
That sections one and five, article six-c, chapter eleven of the code of
West Virginia, one thousand nine hundred thirty-one, as amended, be amended and
reenacted, all to read as follows:
ARTICLE 6C. SPECIAL METHOD FOR APPRAISING DEALER VEHICLE
§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-c 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
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".
§11-6C-5. Intent of this article; tax commissioner to promulgate regulations.
(a)This article is adopted to address the lack of uniformity, audit
difficulties and business management issues arising in this state with respect
to the assessment of the personal property held as new and used dealer vehicle
inventory. Accordingly, the Legislature finds and declares that the adoption of
this article will provide a more reliable and uniform method of determining
market value of dealer vehicle inventory; minimize audit problems associated with
such property; provide a predictable revenue stream for levying bodies; maximize
the owner's ability to manage inventory; and provide clear guidance to local
authorities by superseding the wide variety of otherwise lawful appraisal methods
now in use in this state.
(b) The tax commissioner shall have the power to promulgate such rules and
regulations as may be necessary to implement the provisions of this article:
Provided, That the tax commissioner shall provide to the joint committee on
government and finance by the first day of
January March for the next two fiscal
years, a report detailing the results of the administration of this article.
(Note: This bill has been recommended by interim Joint Judiciary
Subcommittee B for passage at this session.)