55-4-132 - Funding for computerized titling and registration system. - Tennessee Statutes

55-4-132. Funding for computerized titling and registration system.

(a)  In addition to all other fees provided for in this part, there is imposed an additional fee of one dollar ($1.00) on the registration of motor vehicles and the renewal of the registrations.

(b)  All revenues received from the fees shall be earmarked and used solely for the development, acquisition and updating of a computerized titling and registration system and for the operation of the titling and registration system. These revenues shall not be used to replace, displace, reduce or otherwise supplant any moneys budgeted for the titling and registration of motor vehicles.

(c)  All funds generated pursuant to this section shall be deposited in a special account earmarked solely for the purposes set forth in this section and any unused funds shall not revert to the general fund but shall be held in the account for these purposes.

(d)  The department shall submit reports on its progress to the transportation committees of the senate and the house of representatives between July 1, 1999, and until the completion of the updated computerized titling and registration system. These reports shall be submitted quarterly to the transportation committees unless the department is otherwise directed by the committees.

(e)  The commissioner or the commissioner's designee shall appear before the transportation committee of the house of representatives and the senate transportation committee no later than March 1 annually to report the status of the computerized titling and registration system.

[Acts 1999, ch. 459, § 1; 2004, ch. 660, §§ 4, 6; 2004, ch. 943, § 3; 2007, ch. 484, § 40; 2008, ch. 924, § 4.]