61-3-550. Motor vehicle information technology system account.
61-3-550. Motor vehicle information technology system account. (1) There is a motor vehicle information technology system account in the state special revenue fund provided for in 17-2-102.
(2) (a) Until June 30, 2016, $4 of the fee received by the department pursuant to 61-3-103(8) for a security interest or other lien must be deposited in the account.
(b) Until June 30, 2018, fees received by the department pursuant to 61-3-103(9) and $5 of each fee received under 61-3-203 or 61-3-204 for a certificate of title must be deposited in the account.
(3) The money in the motor vehicle information technology system account must be appropriated by the legislature to the department of justice and must be used by the department for the purpose of:
(a) repaying any indebtedness or loan incurred for the creation of a new information technology system for motor vehicles; or
(b) payment of costs directly incurred in the creation and support of the new motor vehicle information technology system.
History: En. Sec. 4, Ch. 394, L. 2001; amd. Sec. 47, Ch. 257, L. 2001; amd. Secs. 9, 12(2), Ch. 562, L. 2003; amd. Sec. 1, Ch. 610, L. 2003; amd. Sec. 6, Ch. 50, L. 2007.