This bill amends the General Laws regarding the registration of vehicles by introducing a new section that authorizes the division of motor vehicles to issue one-year renewal registrations for vehicles leased for a period of thirty-six months when the vehicle is registered in two-year cycles. The renewal will align with the expiration of the lease, and the fees for renewal will be adjusted accordingly.

Additionally, the bill modifies the existing registration fees structure by enabling the division of motor vehicles to issue a credit to registrants of leased or purchased vehicles who voluntarily cancel their 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.

Statutes affected:
830: 31-6-1