This bill amends the General Laws regarding the registration of vehicles by introducing a new section, 31-3-33.1, that allows for the renewal of registration for vehicles leased for a period of thirty-six (36) months and registered in two (2) year cycles. It permits these vehicles to be renewed for an additional year to coincide with the expiration of the lease, with the renewal fees adjusted accordingly.

Additionally, the bill modifies the existing registration fees structure under section 31-6-1 by including provisions for issuing credits to registrants who voluntarily cancel their vehicle registration within the registration period. The credit will equal the unused portion of the registration fee paid and can be applied to future registration fees incurred by the registrant. The changes will take effect upon passage.

Statutes affected:
5768: 31-6-1