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 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. To the extent a person falsely declares a trailer is for commercial use, enactment of this legislation could cost an individual or business $500 per lifetime registration violation. The aggregate amount of these civil penalties is unknown.