The bill establishes a new registration plate called the "Iron Horse" for motorcycles that are at least thirty-five years old and owned as collector's items, intended for exhibition and educational purposes. Owners can apply for a certificate of title and permanent registration by paying a fee of $7 and submitting either a witnessed bill of sale or an affidavit confirming the motorcycle was assembled from parts of older motorcycles. Upon approval, the owner will receive a five-year registration plate featuring the words "Iron Horse," "Land of Enchantment," and "New Mexico." The bill also outlines the process for transferring ownership, revalidating the registration plate every five years for a fee of $5, and obtaining a duplicate plate if lost.

Additionally, the bill amends the existing law to include the "Iron Horse registration" under the definition of penalty assessment misdemeanors, establishing a penalty of $25 for violations related to this new registration category. Fees collected from the Iron Horse registration will be appropriated to the department to cover the costs of issuing these plates. The provisions of this act will take effect on July 1, 2025.

Statutes affected:
introduced version: 66-8-116