Committee: State Government Sponsor: Elliott
Analyst: Pete Grogan Date: 02/22/2022
FISCAL NOTE
Senate Bill 211 as passed the Senate adopts the Uniform Certificate of Title for Vessels Act and requires owners of certain vessels to obtain a certificate of title issued by the Alabama State Law Enforcement Agency (ALEA), which would increase ALEA’s obligations by a department-estimated $5.5 million for fiscal year 2023, $1 million for fiscal year 2024, and $600,000 each fiscal year thereafter, to develop and administer a vessel titling program. This increase in obligations could be offset, in whole or in part, by an estimated maximum of $390,000 annually from the $25 title fee established by this bill to be paid to ALEA upon application for a certificate of title (or replacement), application for transfer of ownership, or search requests. This increase in obligations could further by offset by $25 for each vessel voluntarily titled, as provided by this bill, up to an estimated maximum of $183,000.
This bill would also increase the administrative obligations of county licensing officials by requiring these officials to serve as vessel titling agents of ALEA; however this increase in obligations would be offset, in whole or in part, by the $15 title fee established by this bill to be retained by such official for operation of their office.
In addition, this bill authorizes ALEA to designate dealers or financial institutions to act as title agents and collect an issuance fee of up to $5 for their services, pursuant to the provisions of this bill.
In addition, this bill could increase receipts, presumably, to the State General Fund by $1,000 for each administrative penalty imposed for not complying with specific provisions of this bill.
Chris Pringle, Chair State Government