Section 66-3-420.1 - Motorcycle registration plates to benefit the children's trust fund; procedures; fee. - New Mexico Statutes

66-3-420.1. Motorcycle registration plates to benefit the children's trust fund; procedures; fee.

A.     The division shall establish and issue special motorcycle registration plates featuring artwork of the children of New Mexico and shall adopt procedures for application for and issuance of the special children's artwork motorcycle registration plates.

B.     The children's trust fund board of trustees shall determine the color and design of the special children's artwork motorcycle registration plate and shall request that the division provide for its issuance.

C.     For a fee of twenty dollars ($20.00), which shall be in addition to the regular motorcycle registration fees, an owner of a motorcycle may apply for the issuance of a special children's artwork motorcycle registration plate.  The owner of a motorcycle shall apply and pay a fee each year to retain and renew a special children's artwork registration plate.

D.     The revenue from the special children's artwork registration plates shall be distributed as follows:

(1)     five dollars ($5.00) of the fee collected for each special children's artwork motorcycle registration plate shall be retained by the division in the first year of the issuance of each special children's artwork motorcycle registration plate and is appropriated to the division for the manufacture and issuance of the special children's artwork motorcycle registration plate.  Thereafter, that amount of each fee shall be paid to the state treasurer for credit to the motor vehicle suspense fund for distribution in accordance with Section 66-6-23 NMSA 1978; and

(2)     fifteen dollars ($15.00) of the fee collected for each special children's artwork motorcycle registration plate shall be distributed to the children's trust fund for use in accordance with the provisions of Section 24-19-2 NMSA 1978.