Vicari Auction Supporting Antique Vehicle Legislation in Harvey, LA
The auction event hosted by Vicari Auction is focused on supporting Bill HB520, which proposes a specialty license plate fee in lieu of sales tax for antique vehicles. The bill is scheduled for a hearing on Tuesday, May 6th at 9 a.m. in the Ways and Means Committee at the state Capitol.
Important Auction Details
Location: Vicari Auction, 1900 Destrehan Ave, Harvey, LA 70058
Event Link: Vicari Auction Website
Legislative Purpose
The purpose of Bill HB520 is to create a standardized fee for Antique Automobile plates, aimed at encouraging antique vehicle transactions in Louisiana, particularly for sales over $10,000 and vehicles at least 25 years old.
The bill compares Louisiana’s tax rates to those in ten other states that offer favorable treatment for antique vehicle sales through tax exemptions or reductions.
Expected Positive Impact
- Increase in antique automobile activities in Louisiana.
- Boost in small businesses related to the antique auto industry, including paint shops and mechanics.
- Promotion of antique auto events through car shows and auctions with community benefits.