Sources of Revenue:
Neither Program nor Fund
Fiscal Note Summary
Effect this measure will have on costs and revenues of state government.
The purpose of this bill is to provide an exemption for antique motor vehicles, antique motorcycles, classic motor vehicles and classic motorcycles from the payment of vehicle registration fees.
This bill also eliminates the restrictions on these vehicles as to when they can be operated.
Since the bill eliminates the usage restrictions that had been placed on antique vehicles the Division feels that the owner of any vehicle that is 25 years or older will claim their vehicle as an antique.
In FY2003 the Division had 59,715 vehicles in its vehicle data base that were over 25 years of age. Of that number 1,492 are titled to either state, local or county governments. Of the remaining vehicles 10,775 have either a special antique vehicle plate or an original model year plate. Six hundred thirteen (613) vehicles have an original model year that is paid for annually. Two hundred nine (209) have the special classic car plate and 54 have an antique motorcycle plate. There are also 21,098 plates on non-motorized trailers that will not be affected by this bill. The Division estimates that the owners of the remaining 25,528 vehicles will claim their vehicle as an antique vehicle.
The Division estimates the total loss of vehicle registration revenue to the road fund to be $837,821.
By eliminating having to mail the antique vehicle renewals the Division estimates that $17,700 could be saved in operating expenses.
Fiscal Note Detail
|Effect of Proposal
|1. Estmated Total Cost
|Repairs and Alterations
|2. Estimated Total Revenues
Explanation of above estimates (including long-range effect):
Estimated Revenue Loss
Class No. No. Paying # yr. plate Annual Annual
in class Special is issued Registration Revenue
Antique Fee Fee
AX 1,975 10 $3.50 $6,912.50
AY 613 1 $28.50 $17,470.50
AC 209 1 $45.00 $9,405.00
Total A 18,463 1 $28.50 $526,195.50
Class V 8,800 10 $3.50 $30,800.00
Class B 3,856 $40.00 $154,240.00
Class G 1,628 1 $16.00 $26,048.00
Class GA 54 1 $16.00 $864.00
GV 74 1 $31.00 $2,294.00
M 555 1 $17.50 $9,712.50
X 898 $60.00 $53,880.00
Revenue Loss Per Year $837,821.00
Renewal Application $7,728.00
Total Cost Savings $17,733.00
Person submitting Fiscal Note:
Richard M. Johnston
Email Address: email@example.com