On page 1, line 6, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 1, line 11, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 2, line 4, of the Senate Engrossed bill, delete " and three-tenths " and insert "and two-tenths "
On page 2, line 10, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 2, line 17, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 3, line 5, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 3, line 16, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 3, line 20, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 3, line 27, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 4, line 12, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 4, line 15, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 4, line 20, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 4, line 29, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 5, line 17, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 5, line 20, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 5, line 28, of the Senate Engrossed bill, delete "and three-tenths " and insert "and two-tenths "
On page 5, after line 30, of the Senate Engrossed bill, insert: "
Section 17. That § 32-5B-20 be AMENDED:
32-5B-20.
There is hereby
imposed a tax of four and one-halftwo-tenths
percent upon the gross receipts of any person renting a rental
vehicle as defined in § 32-5B-19.
This tax applies to all vehicles registered in accordance with
§ 32-5-6,
32-5-8.1,
or 32-5-9.
Any rental vehicle not licensed in accordance with § 32-5-6,
32-5-8.1,
or 32-5-9
is subject to the motor vehicle excise tax in § 32-5B-1.
The tax imposed by this section is in addition to any tax levied pursuant to chapter 10-45 or 10-46 upon the rental of a rental vehicle. The provisions of chapter 10-45 apply to the administration and enforcement of the tax imposed by this section. The tax imposed by this section is in lieu of the tax levied by § 32-5B-1 on the sales of such motor vehicles. A violation of this section is a Class 1 misdemeanor."
On page 6, line 13, of the Senate Engrossed bill, after "section." delete "Section 18. The amendments to the Code sections in sections 1 to 16, inclusive, of this Act are repealed on June 30, 2025, and those Code sections will revert in word and substance to that which existed immediately prior to the effective date of this Act."
On page 6, after line 15, of the Senate Engrossed bill, insert: "
Section 19. Beginning July 30, 2025 and by each July thirtieth thereafter, the commissioner of the Bureau of Finance and Management shall report to the special committee, created pursuant to § 4-8A-2, the annual growth coefficient.
For purposes of this section, the term, gross receipts and use tax revenue, means the amount of gross receipts and use taxes collected and reported as prescribed in chapters 10-45 and 10-46 and §§ 10-46E-1, 10-58-1, 32-5-16.1, 32-5B-1, and 32-5B-20.
The term, annual growth coefficient, is calculated as follows:
(1) The difference between the gross receipts and use tax revenue for the prior fiscal year and the gross receipts and use tax revenue for the fiscal year immediately preceding the prior fiscal year; and
(2) The amount calculated in subdivision (1) divided by the gross receipts and use tax revenue for the fiscal year immediately preceding the prior fiscal year."
On page 6, after line 15, of the Senate Engrossed bill, insert: "
Section 20. Upon certification of the special committee of an annual growth coefficient equal to negative one percent or less, as reported pursuant to section 19 of this Act, the amendments to the Code sections in sections 1 to 17, inclusive, and section 19 of this Act, are repealed effective July first of the next year and sections 1 to 17, inclusive will revert in word and substance to that which existed immediately prior to the effective date of this Act."