This bill amends the General Laws regarding the registration of vehicles by introducing a new section that allows for the renewal of registration for leased vehicles. Specifically, it permits vehicles leased for a period of thirty-six months and registered in two-year cycles to be renewed for an additional year to align with the lease's expiration, with renewal fees adjusted accordingly.

Additionally, the bill modifies the existing registration fees structure to include a provision that grants a credit to registrants who voluntarily cancel their vehicle registration within the registration period. This credit will equal the unused portion of the registration fee paid and can be applied to future registration fees incurred by the registrant.

The act is set to take effect upon passage, streamlining the registration process for leased vehicles and providing financial relief for registrants who cancel their registrations early.

Statutes affected:
5768: 31-6-1