Revision: June 15, 2014, midnight
HB 495-FN – VERSION ADOPTED BY BOTH BODIES
29Jan2014… 2231h
2013 SESSION
03/10
HOUSE BILL 495-FN
AN ACT relative to titles for motor vehicles.
SPONSORS: Rep. Cooney, Graf 8; Rep. Hatch, Coos 6; Sen. Hosmer, Dist 7
This bill limits the exemption from the certificate of title requirement for older vehicles to those whose manufacturer’s model year is before the year 2000.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
29Jan2014… 2231h
13-0046
03/10
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Thirteen
AN ACT relative to titles for motor vehicles.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Certificate of Title; Exempted Vehicles. Amend RSA 261:3, I(k) to read as follows:
(k) Any motor vehicle whose manufacturer's model year is [older than 15 years] before the year 2000, except heavy trucks and truck-tractors whose gross vehicle weight exceeds 18,000 pounds.
2 Effective Date. This act shall take effect January 1, 2015.
LBAO
13-0046
Amended 03/10/14
HB 495-FN FISCAL NOTE
AN ACT relative to titles for motor vehicles.
FISCAL IMPACT:
The Department of Safety states this bill, as amended by the House (Amendment #2013-2231h), will increase state highway fund revenues by $375,000 in FY 2015, $1,500,000 in FY 2016, $2,250,000 in FY 2017, $3,000,000 in FY 2018, and $3,750,000 in FY 2019, will increase highway fund expenditures by $27,837 in FY 2015, $258,481 in FY 2016, $514,455 in FY 2017, $735,628 in FY 2018, and $956,152 in FY 2019, and will increase local revenue by $45,000 in FY 2016, $180,000 in FY 2017, $270,000 in FY 2018, and $360,000 in FY 2019. There will be no impact on county revenue, or county and local expenditures.
METHODOLOGY:
The Department of Safety states this bill amends RSA 261:3, I(k) by limiting the exemption to the certificate of title requirements to any motor vehicle whose manufactured model year is before 2000. The Department estimates during the first five years after the passage of this bill it would issue approximately 30,000 additional titles per year where the number of titles to be issued would plateau in the fifth year at 150,000, which would be the amount issued annually in each year thereafter. The Department states it currently takes 25 employees to issue approximately 350,000 titles annually within 10 business days. The Department estimates it would need to hire an additional two full-time employees in each of the first five years following the implementation of this bill, for a total of 10 employees by FY 2019 to process the additional 150,000 titles estimated under this bill. The Department estimates this bill’s impact on state highway fund revenues and expenditures, and local revenue, as follows:
? |
FY 20151 |
FY 2016 |
FY 2017 |
FY 2018 |
FY 2019 |
Cost Per Title |
$25 |
$25 |
$25 |
$25 |
$25 |
Additional Titles |
15,000 |
60,000 |
90,000 |
120,000 |
150,000 |
Estimated Highway Fund Revenue |
$375,000 |
$1,500,000 |
$2,250,000 |
$3,000,000 |
$3,750,000 |
? |
? |
? |
? |
? |
? |
Estimated Salary and Benefit Costs |
$24,837 |
$207,981 |
$327,455 |
$457,128 |
$585,652 |
Estimated Additional Expenditures (Supplies, Equipment, etc…) |
$3,000 |
$5,500 |
$7,000 |
$8,500 |
$10,500 |
Estimated Operating Expenditures |
$27,837 |
$213,481 |
$334,455 |
$465,628 |
$596,152 |
? |
? |
? |
? |
? |
? |
Local Aid |
$0 |
$45,000 |
$180,000 |
$270,000 |
$360,000 |
? |
? |
? |
? |
? |
? |
Total Highway Fund Expenditures |
$27,837 |
$258,481 |
$514,455 |
$735,628 |
$956,152 |
1 – Half year assumed for FY 2015 as effective date of the bill is January 1, 2015.
This bill provides neither authorization nor appropriation for new positions.