SB276 Summary

• Removes the prohibition on approving distinctive license plates for out-of-state colleges and universities, allowing the legislative oversight committee to consider and approve such applications.

• Establishes that proceeds from the sale of distinctive license plates for out-of-state colleges and universities shall be deposited into the Education Trust Fund rather than distributed to the sponsoring organization.

• Designates all additional fee revenue from out-of-state college and university license plates for preventing and lowering high school dropout rates.

• Maintains the standard $50 annual additional fee for distinctive license plates, with specific distributions for commission, manufacturing costs, administrative costs, and the Penny Trust Fund before remainder goes to the Education Trust Fund.

• Becomes effective on the first day of the third month following passage and approval by the Governor.