The bill proposes revisions to the registration fees for high-value vehicles and watercraft in Montana, establishing that the fees will be calculated as a percentage of the manufacturer's suggested retail price (MSRP). Specifically, for light vehicles and motor homes with an MSRP exceeding $150,000 and $300,000 respectively, an additional fee of 1% of the MSRP will be added to the standard registration fees. Furthermore, the bill mandates annual increases of 2% to these fees starting January 1, 2025. The definition of "manufacturer's suggested retail price" is also expanded to include various types of watercraft.

Additionally, the bill amends Section 61-3-321 of the Montana Code Annotated, which outlines the registration fees for various vehicles and vessels. It introduces new provisions for calculating fees based on the MSRP for certain high-value items while also specifying that the amounts collected based on MSRP are exempt from certain provisions and must be deposited into a designated account. The effective date for the implementation of these changes is set for January 1, 2024.

Statutes affected:
Introduced: 61-3-321