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281.687 Vehicle license cost recovery fee charged by motor vehicle renting
company.
(1)
(2)
(3)
As used in this section:
(a) "Motor vehicle renting company" means a holder of a permit as required
under KRS 281.615 to operate as a U-Drive-It as defined in KRS 281.014,
which regularly engages in renting or leasing motor vehicles to customers
for less than a sixty (60) day term as part of an established business;
(b) "Vehicle license costs" means the costs incurred by a motor vehicle
renting company for licensing, titling, registration, property tax, plating,
and inspecting rental motor vehicles; and
(c) "Vehicle license cost recovery fee" means a charge on a vehicle rental
transaction originating within the Commonwealth that is separately stated
on the rental agreement to recover vehicle license costs.
(a) If a motor vehicle renting company includes a vehicle license cost
recovery fee as a separately stated charge in a rental transaction, the
amount of the fee shall represent the company's good-faith estimate of
the motor vehicle rental company's daily charge to recover its actual total
annual vehicle license costs.
(b) If the total amount of the vehicle license cost recovery fees collected by a
motor vehicle renting company under this section in any calendar year
exceeds the company's actual vehicle license costs, the motor vehicle
renting company shall:
1.
Retain the excess amount; and
2.
Adjust the vehicle cost recovery fee for the following calendar year
by a corresponding amount.
Nothing in this section shall prevent a motor vehicle renting company from
including, or making adjustments during the calendar year to, separately stated
surcharges, fees, or charges in the rental agreement, which may include but
are not limited to vehicle license cost recovery fees, airport access fees, airport
concession fees, consolidated facility charges, and all applicable taxes.
Effective:July 15, 2008
History: Created 2008 Ky. Acts ch. 88, sec. 1, effective July 15, 2008.
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