By SEMA Washington, D.C., Staff
The Kentucky Legislature approved legislation to put in place a new and more beneficial valuation procedure for older vehicles.
Legislation to put in place a new and more beneficial valuation procedure for older vehicles was approved by the Kentucky Legislature and now moves to Governor Steve Beshear for his signature and enactment into law. 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.