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ANNUAL VEHICLE LICENSE FEE. INITIATNE STATUTE. Amends the state Revenue and Taxation Code to set the annual license fee for owning a vehicle, except for a trailer, semi-trailer or trailer coach, at $1.00 (one dollar), instead of the current rate of2% of the vehicle's market value. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: Annual state savings of up to $4.5 billion and additional income tax revenues of roughly $200 million annually. Local government revenue losses of approximately $6.5 billion annually.
Thomas McClintock, State Senator, 19th District, Tom McClintock's Citizens to End the Car Tax, 1127 11th Street, Ste. 216, Sacramento, CA 95814, (916) 448-9321
Failed to Qualify
ANNUAL VEHICLE LICENSE FEE. INITIATIVE STATUTE. California Initiative 997 (2003).