(a) General rule.--This subchapter covers forfeitures of watercraft trailers left in the possession of watercraft trailer dealers.
(b) Legislative intent.--It is the intent of the General Assembly that this subchapter act in concert with 30 Pa.C.S. Ch. 53 Subch. C (relating to boat and marine forfeiture).
(c) Applicability.--
(1) The provisions of this subchapter shall only apply to a watercraft trailer with a resale value based upon established industry standards equal to or less than the maximum amount set forth in this subsection.
(2) The maximum amount for the year 2006 shall be $1,000. Thereafter, the maximum amount shall be fixed annually by the department based upon the maximum amount in the prior year as adjusted to reflect the change in the Consumer Price Index for All Urban Consumers (CPI-U) for the United States for all items as published by the United States Department of Labor, Bureau of Labor Statistics, for the previous 12-month period. The maximum amount as adjusted shall be rounded to the nearest multiple of $5.
(3) The department shall give notice of the new maximum amount by publication in the Pennsylvania Bulletin in the third publication in March of each year.