(a) A rental car business may not charge a renter a vehicle licensing cost recovery fee unless the vehicle licensing cost recovery fee represents a good faith estimate by the rental car business of the average daily cost to the rental car business of recovering its actual total annual licensing costs in the state during a calendar year.
(b) If the total amount of the vehicle licensing cost recovery fees collected by a rental car business during a calendar year exceeds the actual amount of the rental car business's licensing costs during that calendar year, the rental car business shall
(1) retain the excess amount; and
(2) adjust the good faith estimate required by (a) of this section for the next calendar year so that the good faith estimate reflects the excess amount.
(c) In addition to the adjustment required by (b) of this section, a rental car business may adjust its vehicle licensing cost recovery fee during the calendar year when the excess vehicle licensing cost recovery fees are collected if the vehicle licensing cost recovery fee otherwise complies with this section.