By SEMA Washington, D.C., Staff
Kentucky Senate Transportation Committee approved legislation to put in place a new valuation procedure for older vehicles.
Legislation to put in place a new valuation procedure for older vehicles was approved by the Kentucky Senate Transportation Committee and now moves to a vote by the full Senate. The bill has already been approved by the House. Under the bill, vehicles 20 years old or older would no longer be presumed to be in "original factory" or "classic" condition. Original factory and classic vehicles are currently assessed as high-value collectibles. This measure instead provides three options for assessing the value of these vehicles.