Section 47:463.203 - Special prestige license plate; "Best Bank"A. The secretary of the Department of Public Safety and Corrections shall establish a special prestige motor vehicle license plate to be known as the "Best Bank" plate, provided there is a minimum of one thousand applicants for such plate. The plate shall be restricted to use on passenger cars, pickup trucks, recreational vehicles, motorcycles, and vans.B. The secretary shall work in conjunction with the member of the House of Representatives representing House District Number 102 to select the color and design of the plate, provided it is in compliance with R.S. 47:463(A)(3). The design shall include the words "Best Bank".C. The special prestige license plate shall be issued, upon application, to any citizen of Louisiana in the same manner as any other motor vehicle license plate.D. The department shall collect an annual royalty fee of twenty-five dollars that shall be disbursed in accordance with Subsection E of this Section. This fee shall be in addition to the standard motor vehicle license tax imposed by Article VII, Section 5 of the Constitution of Louisiana, and a handling fee of three dollars and fifty cents for each plate to be retained by the department to offset a portion of administrative costs.E. The annual royalty fee shall be collected by the department and forwarded as follows: (1) One quarter of the royalty fee shall be dedicated to the Algiers Park Commission to benefit parks and playgrounds within the Algiers community.(2) One quarter of the royalty fee shall be dedicated to the Early Childhood Care and Education Network for the benefit of early education opportunities and services provided to the Algiers community.(3) One half of the royalty fee shall be dedicated to the Algiers Development District with one quarter to benefit streets, roads, and other transportation needs within the Algiers community and the remaining one quarter to benefit economic development in the Algiers community.F. The secretary shall promulgate and adopt rules and regulations as are necessary to implement the provisions of this Section.La. Revenue and Taxation § 47:463.203
Added by Acts 2019, No. 18,s. 1, eff. 8/1/2019.