HB556 Summary

• Adds a $13 processing fee to motor vehicle title transactions, increasing the total fee from $15 to $28 for applications for certificates of title, replacements, transfers, security interests, and lienholder assignments.

• Distributes the $13 processing fee proceeds: 5% to the Department of Revenue for administrative costs, and 95% to the Alabama Corrections Institution Finance Authority to pay bonds for women's and regional prison facility construction and improvements.

• Applies the same fee structure to manufactured home titles under Code Section 32-20-4.

• Becomes effective the first day of the second month following passage, but only if Senate Bill 287 (authorizing additional bond issuance by the Corrections Institution Finance Authority) is also enacted; otherwise the bill is null and void.