There shall be a credit allowed with respect to the excise tax paid for a vehicle which is:
1. A replacement for a vehicle which was destroyed by a tornado in calendar year 2013 or any subsequent year for which a Presidential Major Disaster Declaration was issued, and upon which excise tax had been paid pursuant to the provisions of Section 2103 of this title on or after January 1, 2012; or
2. A replacement for a vehicle which was destroyed by a tornado in calendar year 2012 or calendar year 2013 for which a Presidential Major Disaster Declaration was not issued, and upon which excise tax had been paid pursuant to the provisions of Section 2103 of this title on or after January 1, 2011.
The credit shall be in the amount of the excise tax which was paid for the destroyed vehicle and shall be applied to the excise tax due on the replacement vehicle. In no event shall the credit authorized by paragraphs 1 and 2 of this section be refunded.
Added by Laws 1999, c. 186, § 2, emerg. eff. May 21, 1999. Amended by Laws 2002, c. 190, § 1, emerg. eff. May 6, 2002; Laws 2003, c. 374, § 4, emerg. eff. June 4, 2003; Laws 2013, c. 370, § 4, emerg. eff. May 29, 2013; Laws 2014, c. 215, § 4, emerg. eff. May 2, 2014; Laws 2015, c. 54, § 21, emerg. eff. April 10, 2015.
NOTE: Laws 2014, c. 329, § 4 repealed by Laws 2015, c. 54, § 22, emerg. eff. April 10, 2015.