Motor vehicle registration tax modified.

This bill modifies how the state of Minnesota calculates registration taxes for passenger automobiles and hearses, directly affecting vehicle owners and dealers. It lowers the tax rate from 1.54% to 1.25% for cars registered before November 16, 2020, and from 1.575% to 1.285% for newer vehicles, while also reducing the percentage of the vehicle's price charged in subsequent years of ownership. The changes take effect for registration periods starting on or after January 1, 2027, and include rules that prevent the total tax paid on a vehicle from exceeding the amount originally due.