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 a witnessed bill of sale or an affidavit regarding the motorcycle's assembly. Upon approval, the division will issue 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 penalty assessment misdemeanors to include violations related to the Iron Horse registration, assigning a penalty of $25 for such offenses. It also specifies that 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 are set to take effect on July 1, 2025.

Statutes affected:
introduced version: 66-8-116