MS HB1286

Allows corporations or legal entities to register motor vehicles in rental fleets on an annual basis with all vehicles expiring in the same anniversary month established by the Commissioner of Revenue.

Requires a $100 filing fee for rental fleet registration applications and mandates that a rental fleet registration card be carried in all fleet vehicles at all times.

Permits rental fleet license tags to be transferred between vehicles within the fleet during a registration year when a vehicle is removed and replaced, subject to a $5 transfer fee and other conditions.

Defines "rental fleet" as a group of 200 or more vehicles (private carriers of passengers, light carriers of property, trailers, semitrailers, or vehicles exceeding 10,000 pounds gross vehicle weight) owned or leased by a corporation or legal entity and exempt from ad valorem taxation.

Effective January 1, 2025, allows the Department of Revenue to prorate rental fleet vehicle registrations so expiration dates coincide with the established anniversary month, and provides that remaining privilege tax on removed vehicles transfers to replacement vehicles.