MS HB1459

Creates the "State Tax Commission License Tag Acquisition Fund" as a special fund in the State Treasury, funded by a portion of motor vehicle registration and tag fees equal to the cost of license tags, decals, and associated freight costs

Beginning April 1, 2010, the Department of Revenue must deposit the portion of registration and tag fee receipts covering license tag, decal, and freight costs into the new special fund on the first day of each month, rather than into the General Fund

From and after July 1, 2010, the State Tax Commission may use monies in the special fund exclusively for purchasing license tags, plates, decals, and paying associated freight costs

Unexpended amounts in the special fund do not lapse into the State General Fund at the end of a fiscal year, and any interest or investment earnings remain credited to the fund

The commission may escalate its budget and expend monies from the special fund in accordance with Department of Finance and Administration rules, consistent with the process used for escalation of federal funds