Establishes methods to determine purchase price of used motor vehicles acquired by gift or transfer.

The bill provides methods to determine the purchase price of used motor vehicles acquired by gift or transfer. It allows the use of a nationally recognized dealers' guide or a bill of sale for determining the purchase price. It also outlines various scenarios for calculating the purchase price of motor vehicles, including those sold by dealers, leased vehicles, and those acquired by gift or transfer.

Establishes methods to determine purchase price of used motor vehicles acquired by gift or transfer.

The bill provides methods to determine the purchase price of used motor vehicles acquired by gift or transfer. It allows the use of a nationally recognized dealers' guide or a bill of sale for determining the purchase price. It also outlines various scenarios for calculating the purchase price of motor vehicles, including those sold by dealers, leased vehicles, and those acquired by gift or transfer.