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Committee defers rental-car tax overhaul after industry warns of long-term revenue loss
Summary
After hours of testimony, lawmakers deferred HB 2575 HD1 — which would apply the retail/general excise tax rate to rental-car fleet purchases — citing industry warnings that the change could alter fleet cycles and reduce long-term GPT revenue; proponents said it could raise revenue for education and recovery but members sought more analysis.
The joint committees heard extensive testimony on HB 2575 HD1, a measure that would apply the retail or higher general excise tax (GET) or use tax rate to purchases or imports of new motor vehicles by rental-car companies and appropriate funds for a Department of Taxation position. After robust questioning and competing testimony, the committees recommended deferring the bill to continue study in the interim.
Why it matters: Proponents framed the bill as a way to raise revenue (proposed estimates cited informally in testimony suggested $70–$90…
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