The bill amends Chapter 31-3 of the General Laws regarding the registration of vehicles by introducing a new section that authorizes the division of motor vehicles to issue special registration plates for the not-for-profit entity, Lime Rock Foundation, Inc. These plates will be designed to reference the organization and will include a design featuring the Ida Lewis Lighthouse, which must be approved by the Rhode Island state police. The special plates will be displayed on the same registration number assigned to the vehicle and will replace the original registration plates, which must be removed and returned to the division of motor vehicles. The registration certificate for the special plates must be carried in the vehicle.

The bill outlines the requirements for the issuance of these plates, including compliance with minimum pre-paid order requirements and the development of prepayment procedures by the administrator of motor vehicles. An issuance surcharge of $40 will apply for the Lime Rock Foundation plates, with $20 allocated to the general fund and the remaining $20 directed to the Lime Rock Foundation to support the preservation of the Ida Lewis Lighthouse. Additionally, a $10 surcharge will apply for subsequent registration renewals, benefiting the Foundation.

The bill mandates that the Lime Rock Foundation, Inc. use any Rhode Island sourced funds for the benefit of Rhode Island-based charitable organizations and requires the Foundation to submit an annual accounting report before the distribution of funds. There will be no refunds for early cancellation of these special plates. The act is set to take effect six months after its passage.