ALEXANDRIA, VA – In Kentucky State House Bill 380, a budget proposal introduced at the request of Kentucky Gov. Ernie Fletcher, TRALA is seeking a legislative initiative in the Commonwealth of Kentucky that would eliminate the existing property tax on trucks and trailers and create an “in-lieu of” fee paid through the International Registration Plan (IRP). TRALA’s proposal would create a one-stop shopping type system in an effort to reduce the administrative burden of compliance for truck lessors as well as solve the Commonwealth’s costly property tax evasion problems. However, the legislation as introduced fell short of that objective. TRALA and the Kentucky Motor Truck Association are working to amend HB 380 to ensure the legislation meets the objectives of the industry and commonwealth. For more information, contact TRALA’s John Lynch at (703) 299-9120 or jlynch@trala.org.

Originally posted on Fleet Financials

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