Legislation (H.B. 1990) containing a SEMA Action Network-drafted amendment to totally exempt from the license tax ALL vehicles and parts cars stored on private property for the purpose of restoration or repair was signed into law by Governor Bob McDonnell. The license tax is applied to vehicles that do not display current license plates, even those 25 years old and older. Under H.B. 1990, the exemption for all cars, regardless of age that are undergoing restoration (for as long a time period as the restoration work requires) represents a new benefit to car owners. Vehicles stored within a structure remain exempt from the tax. H.B. 1990 demonstrates a real effort by legislators and hobbyists to enact reasonable and fair compromise legislation.
Thank you and congratulations to all who participated in supporting this bill.