The Commissioner of Motor Vehicles shall charge each new car dealer or used car dealer licensed pursuant to section 14-52 a fee of one hundred dollars for each transaction in which the new car dealer or used car dealer processes a used motor vehicle traded in by the purchaser of a new motor vehicle or used motor vehicle from such new car dealer or used car dealer. Any fees collected pursuant to this section shall be deposited in the General Fund. Nothing in this section shall prohibit a new car dealer or used car dealer from seeking remuneration for the fee imposed by this section.
(June Sp. Sess. P.A. 17-2, S. 667; P.A. 19-117, S. 361; 19-161, S. 36.)
History: June Sp. Sess. P.A. 17-2 effective December 1, 2017, and applicable to transactions occurring on or after December 1, 2017; P.A. 19-117 increased trade-in fee from $35 to $100, effective October 1, 2019, and applicable to transactions occurring on or after October 1, 2019; P.A. 19-161 added provision re remuneration for fee.