AN ACT ELIMINATING THE HIGHER SALES AND USE TAXES RATE FOR CERTAIN MOTOR VEHICLES.

HB 5015 changes the sales tax threshold for motor vehicles, raising the price limit from $100,000 to "more than $100,000" to determine which vehicles pay a higher 7.75% sales and use tax rate. This directly affects buyers of vehicles priced below $100,000, who currently pay the higher tax rate but would pay a lower rate under the proposed change. The key mechanism is amending the tax code to increase the sales price threshold, effectively eliminating the higher tax for most lower-cost vehicles. The bill aims to reduce the tax burden for these buyers without altering tax rates for vehicles priced at or above the new threshold.