TO PROVIDE THAT THE LESSEE OF A LEASED MOTOR VEHICLE IS THE OWNER FOR PURPOSES OF THE ASSESSMENT AND PAYMENT OF PROPERTY TAXES; AND TO AMEND THE LAW CONCERNING LOCAL SALES AND USE TAXES ON CERTAIN TANGIBLE PERSONAL PROPERTY.

HB 1960 modifies the assessment and payment of property taxes for leased motor vehicles. It designates the individual or entity leasing a motor vehicle as the owner for property tax purposes, making them responsible for these taxes instead of the leasing company. This change directly affects lessees of motor vehicles by shifting the tax liability to them. Additionally, the bill amends the laws concerning local sales and use taxes on certain tangible personal property.