Committee: Ways and Means General Fund | Sponsor: Orr |
Analyst: John Friedenreich | Date: 02/24/2021 |
FISCAL NOTE
Senate Bill 112 as substituted and reported by the Committee on Ways and Means General Fund would reduce the current additional license tax and registration fee of either $200 or $100, established for battery or plug-in hybrid electric vehicles, respectively, pursuant to the Rebuild Alabama Act, to $50 for electric low speed vehicles (LSV) that are registered and operated on the public (non-interstate) highways of this state. Based on the number of LSV's registered in fiscal year 2020, beginning January 1, 2022, this bill would reduce LSV license tax and registration fee receipts to the following funds by the following estimated amounts:
Public Road and Bridge Fund | $20,000 |
Counties and Municipalities | $10,000 |
Rebuild Alabama Fund | $10,000 |
Total | $40,000 |
Additionally, this bill establishes that the Alabama Department of Revenue is responsible for the distribution of the additional annual license and registration fees for electric vehicles beginning October 1, 2021, which will increase the administrative obligations of the department by an undetermined amount.
Kyle South, Vice Chair Ways and Means General Fund |