516D.3A Vehicle license recovery fee.
1. A rental company may include separately stated charges in a rental agreement pursuant to the provisions of this chapter for the recovery of fees paid to this state to license, title, register, and plate rental vehicles.
2. If a rental company includes a vehicle license recovery fee as a separately stated charge in a rental transaction, the amount of the fee shall represent the rental company’s good-faith estimate of the rental company’s average per vehicle portion of the rental company’s total annual titling and registration fees paid to this state.
3. If the total amount of the vehicle license recovery fees collected by a rental company under this section in any calendar year exceeds the rental company’s actual fees paid to this state to license, title, register, and plate rental vehicles for that calendar year, the rental company shall do both of the following:
a. Retain the excess amount to be held in a vehicle license recovery fee fund as a consumer credit for the following year.
b. Lower the estimated average per vehicle titling and registration charge for the following calendar year by the corresponding amount in the vehicle license recovery fee fund.
2015 Acts, ch 102, §3