Bill > H0639

This bill modifies the laws governing specialty license plates in Florida by requiring organizations that have an approved specialty license plate to submit a 5-year financial projection, including anticipated revenues, expenditures, and any planned distributions to third parties, to the Department of Highway Safety and Motor Vehicles (DHSMV) within 60 days of the plate's approval; failure to do so will result in the plate's deauthorization. The DHSMV will also now be required to submit an annual report to the Governor and Legislature by December 31st detailing these financial projections and any instances where revenue distributions were withheld. Furthermore, the bill clarifies that annual use fees and any interest earned from these fees can only be distributed to specific types of domestic or foreign corporations (referred to as "corporations" in the bill) and prohibits their use for commercial or for-profit activities, with some exceptions for administrative costs and audits. The bill also revises provisions related to the Fraternal Order of Police license plates, specifying that annual use fees will be distributed to the Fraternal Order of Police Memorial Foundation, Inc., a nonprofit organization, and directs the DHSMV to develop several new specialty license plates for various organizations and educational institutions, including Miami Northwestern Alumni Association, Christopher Columbus High School, Ultimate Fighting Championship (UFC), United States Naval Academy, United States Military Academy, Miami Dade College, and Florida Film Legacy plates, with specific guidelines for fee distribution and use.