TO AMEND THE LAW CONCERNING THE COLLECTION OF SALES AND USE TAX ON MOTOR VEHICLES, TRAILERS, SEMITRAILERS, AND MOTORBOATS, AS AFFIRMED BY REFERRED ACT 19 OF 1958; AND TO SUBJECT CERTAIN USED MOTORBOATS TO A SPECIAL RATE OF TAX.

Senate Bill 49 proposes to amend the existing law concerning the collection of sales and use tax on purchases of new or used motor vehicles, trailers, semitrailers, and motorboats. The bill specifically introduces a special rate of tax that would apply to certain used motorboats. This legislation directly affects individuals and businesses involved in the purchase or sale of these types of vehicles and watercraft, particularly those acquiring used motorboats.