Enactment of this legislation could increase local government tax revenues from lifetime age-based/uniform fees on eligible trailers by approximately $3,727,000 in FY 2027 and $6,238,000 in FY 2028. As lifetime registrations decrease the number of annual registrations over time, it is estimated that this bill will decrease age-based/uniform fees by approximately $4,969,000 ongoing in FY 2035 when the bill is in full effect. Enactment of this legislation could decrease local government tax revenues from discontinuing lifetime age-based/uniform fees on certain commercial trailers by approximately $66,000 in FY 2027 and increase tax revenues by $56,000 in FY 2028. As new annual registrations increase over time as lifetime registrations are discontinued, it is estimated this bill could increase local tax revenues by approximately $1,810,000 ongoing in FY 2031 when this provision of the bill is in full effect.

Enactment of this legislation allows owners of eligible trailers to obtain lifetime registration and pay a one-time uniform fee in lieu of ad valorem tax and forego having to pay future registration and ad valorem fees. Registration fees on eligible trailers under current code are $49.50, and the one-time registration fees in this bill could be $198. Annual uniform fee on eligible property currently averages $82, and the one-time uniform fee in this bill averages $328. Owners who choose to pay the one-time registration and uniform fees will pay more in a single year, but may save money over time if they own eligible property for at least 4 years. Impacts will vary by owner, with only owners who anticipate savings choosing the one-time registration and uniform fees. In total, it is estimated that owners of eligible property will pay approximately $5,978,000 more in FY 2027 and $10,018,000 more in FY 2028; however, they could pay $7,969,000 less ongoing when the bill is in full effect in FY 2035. Enactment of this legislation discontinues owners of certain commercial trailers to obtain lifetime registration and pay a one-time uniform fee in lieu of ad valorem tax and forego having to pay future registration and ad valorem fees. One-time registration fees on certain commercial trailers under current code are estimated to be $179, and the annual registration fees in this bill could be about $50. The one-time uniform fee on certain commercial trailers averages $150, and the annual uniform fee in this bill could average $111. In total, it is estimated that owners of certain commercial trailers will pay approximately $286,000 less in FY 2027 and $300,000 less in FY 2028; however, they could pay $1,904,000 more ongoing when this provision in the bill is in full effect in FY 2031.