HISTORIC VEHICLES; PERSONALIZED PLATE S.B. 716:
SUMMARY OF BILL
REPORTED FROM COMMITTEE
Senate Bill 716 (as reported without amendment)
Sponsor: Senator Veronica Klinefelt
Committee: Transportation and Infrastructure
CONTENT
The bill would amend the Michigan Vehicle Code to allow an owner of a historic vehicle to apply and receive a personalized license plate upon paying a $150 registration fee.
BRIEF RATIONALE
Under the Code, many vehicles are eligible for personalized license plates: passenger motor vehicles, pick-up trucks, motorcycles, motor homes, buses, hearses, and more. According to testimony before the Senate Committee on Transportation and Infrastructure, historic vehicle owners may desire the opportunity to personalize their license plates. Accordingly, it has been suggested that the Code be amended to provide for personalized historic vehicle plates.
Legislative Analyst: Abby Schneider
FISCAL IMPACT
The bill would provide for the issuance of personalized plates for a historic vehicle, which currently is not allowed. The bill would require the payment of a $150 fee for a personalized historic vehicle plate that would be valid for 10 years. Non-historic vehicle plates currently must pay up to $30 (prorated at $8 for the first month and $2 for each month remaining in the registration period) for a personalized plate registration (good for one year) with a $15 renewal rate for each subsequent year. The bill proposes a $150 fee for personalized historic vehicles for the 10-year period. The Department of State has indicated that the $150 service fee is intended to cover most of the service fees over the 10-year period as those service fees are estimated at $143 to $165 depending on how many months remain in the current registration period for the historic vehicle at the time of the purchase of the personalized plate. The amount of revenue to be received from the proposed $150 service fee is indeterminate and would depend on the number of historic vehicles that applied for a personalized plate.
The revenue from the service fees for personalized plates must be deposited into the Michigan Transportation Fund (MTF) for road and bridge repairs. Additionally, up to $20.0 million from the MTF may be allocated to the Department of State for necessary expenses incurred for enforcement of the Michigan Vehicle Code.
The bill would not have any fiscal impact on local governments.
Date Completed: 3-19-24 Fiscal Analyst: Joe Carrasco, Jr.
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.