By SEMA Washington, D.C., Staff
SEMA is supporting legislation to reduce the annual vehicle registration fees for automobiles and light trucks. The bill was approved by the Florida Senate Appropriations Committee. If enacted into law, the reduction in fees would result in a $12 annual decrease in the amount paid to register a motor vehicle and save Florida taxpayers up to $220 million per year. The reduction would be implemented by eliminating a tax credit for Florida insurance companies. The bill will now be considered on the Senate floor in a vote by all members.