LEGISLATIVE FISCAL ESTIMATE TO


[First Reprint]

SENATE, No. 1623


STATE OF NEW JERSEY

 

DATED: DECEMBER 10, 1996

 

 

      Senate Bill No. 1623 (1R) of 1996 authorizes the Division of Motor Vehicles in the Department of Transportation to register a vessel as an historic vessel if it is at least 25 years old and is used only for exhibitory or educational purposes. The registration fee would be the same as presently prescribed for vessels except that a unique, historic vessel registration number would be issued.

      The Office of Legislative Services (OLS) estimates that this bill is essentially revenue neutral since no new fees are created or existing fees modified. Further, since only a change in the type of registration is authorized by this bill, OLS estimates that the administration of a new, historic vessel registration system should have nominal, if any, additional costs.

      This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

 

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.