King pushes 2-year option for vehicle registration
Motorists could save time and effort and the state could save money under a bill Rep. Steve King is pushing in the Colorado Legislature this session.
The Grand Junction Republican is proposing that the state Division of Motor Vehicles implement two-year vehicle registration as an alternative to having motorists do it every year.
King said the idea would earn the state about $11 million during the first year and several thousand dollars a year thereafter because it would be less work for the DMV when auto registrations come due each year.
“There’s definitely a lot of benefits to this in terms of cost savings to the state and time and effort for drivers,” King said. “I don’t know why anyone would be against such an idea.”
House Bill 1268, which was approved by the House State, Veterans & Military Affairs Committee last month, allows vehicle owners to be reimbursed if they sell cars before the two-year registration ends. Current law allows for reimbursement, he said.
The measure, which awaits another hearing before the House Appropriations Committee, also would end the controversial late fees that have caused many motorists much consternation in the past year, but only for people who decide to register for two years.
The Legislature approved new vehicle-registration fees last year that included late fees of up to $100. If that part of King’s bill survives, the state stands to lose about $435,000 a year in late fees that would no longer be collected.
“But the interest we’re going to be able to make on registrations from the first year will make up that difference,” King said. “It’s a win for the state because you’re getting more money up front. It’s a win for the citizens because they don’t have to go in except for every two years. And for those people that want to register every year, they can still do that.”
If the measure is approved, the new two-year registration option would go into effect Jan. 1, 2012.