Fiscal Note
HB0161 - Motor Vehicle Insurance Fee
State Impact:
Enactment of this bill will put in place a $0.50 fee on each motor vehicle insurance policy. This could increase revenue to the Automated License Plate Recognition System Restricted Account and the Transportation Fund by $1,160,000 in FY 2010 and $1,190,000 in FY 2011. The amount that can be deposited into the Automated License Plate Recognition System Restricted Account is capped at $800,000. The revenue to the restricted account is to be used by the Motor Vehicle Enforcement Division to administer an automated license plate recognition system; four vehicles would be purchased in FY 2010 and two vehicles in FY 2011.
| Funding Source | FY 2009 Approp. | FY 2010 Approp. | FY 2011 Approp. | FY 2009 Revenue | FY 2010 Revenue | FY 2011 Revenue |
| General Fund Restricted | $0 | $800,000 | $800,000 | $0 | $800,000 | $800,000 |
| Transportation Fund | $0 | $0 | $0 | $0 | $360,000 | $390,000 |
| Total | $0 | $800,000 | $800,000 | $0 | $1,160,000 | $1,190,000 |
Individual, Business and/or Local Impact:
Individuals and businesses with insurance policies on their vehicles will experience a fee increase of $1,160,000 in FY 2010 and $1,190,000 in FY 2011. Locals could be affected through increased recovery of stolen vehicles.
| 3/5/2009, 5:03:54 PM, Lead Analyst: Young, T. | Office of the Legislative Fiscal Analyst |