Urgent Collector Car Legislation Alert – Not An April Fools Hoax
The Shelby American Automobile Club's April report about purported tax legislation being prepared by Sen. Charles Schumer, which would tax every collector car, antique, hot rod and race car in the country, sent enthusiasts into a frenzy until it was understood that the story was in fact an April Fool's Day hoax.
However, SEMA has reported that Connecticut has approved a bill to further restrict access to Antique Vehicle Registration and increase fees, and this is not a hoax: "Legislation (H.B. 5580) to increase the age requirement for vehicles eligible for registration as "antique, rare or special interest motor vehicles" has been passed by the Connecticut Joint Committee on Planning and Development. The bill was amended in Committee to increase the age requirement for registration as an antique to 30 years old and increase the tax assessment amount on vehicles registered as antiques to $2,500. Currently, vehicles 20 years old or older are eligible for antique status. Antique, rare or special interest motor vehicles are currently assessed at a rate of $500 and owners pay personal property taxes on that amount. The bill will next be considered by the full House of Representatives." If this bill passes in Connecticut, it can set a strong precedent for other states to follow.
For more about this subject and others, go to www.semasan.com. Thanks to Manny & Winnie V. for submitting this information.
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