VEHICLE REGISTRATION - H.B. 4969: COMMITTEE SUMMARY
House Bill 4969 (as passed by the House)
Sponsor: Representative Mike Kowall
House Committee: Transportation
Senate Committee: Transportation and Tourism
Date Completed: 2-29-00
CONTENT
The bill would amend the Michigan Vehicle Code to permit the Secretary of State, upon request, to issue a vehicle registration for more than one registration period, in a manner determined by the Secretary of State. The registration tax would have to be prorated according to the taxes and expiration dates provided for under the Code.
If a registration were purchased under the bill, an annual tax increase provided for under the Code could not be assessed during the remainder of the period that the registration had been purchased.
In addition, the bill specifies that the expiration date for a multiyear registration issued for a leased vehicle would have to be the date the lease expired, but could not be for a period of more than 24 months.
The bill would take effect April 1, 2001.
MCL 257.226 et al. - Legislative Analyst: L. Arasim
FISCAL IMPACT
The provisions of this bill could result in an increase in revenues to the State in the first year due to the payment of fees for multiple years. In the second year, there could be a resultant decrease in revenue due to the payment of fees for multiyear registration in the previous year. The net fiscal impact would be zero. The fluctuations in revenues would depend on the number of participants.
- Fiscal Analyst: E. LimbsS9900\s4969sa
This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.