A portion of the money Nevadans paid last year to register their vehicles soon could be back in their pockets. Truck drivers in the state are among those that would receive the greatest benefit.
Lawmakers reached an agreement last week on a bill to use some of the state’s surplus funds to give residents rebates on their vehicle registrations. AB572 has been sent to Republican Gov. Kenny Guinn for approval.
The state has $300 million in extra money that could be used for the rebates, The Associated Press reported.
The rebate program sought by Guinn had been a sticking point on the state’s two-year, $5.9 billion budget. The governor had said he would veto a budget that did not include a taxpayer rebate.
Under the rebate agreement reached in the Legislature’s final hours before adjournment, the minimum rebate that residents and businesses would receive on their vehicle registration fees would be $75, the Las Vegas Review-Journal reported. The maximum return would be $275 per vehicle.
An additional compromise with legislative Democrats allows people over 65 years old who don’t drive but have state identification cards to apply for a $75 rebate.
Throughout the legislative session, opponents questioned whether a registration rebate is the best option for the state’s surplus funds, which resulted from a strong economy and increased taxes passed during the 2003 session.
U.S. Rep. Jim Gibbons, R-NV, praised the initiative, noting “it is the taxpayers’ money first, not the government’s.”
“Now that our state government enjoys a large surplus, I am pleased that Nevada’s working men and women will be able to keep more of their hard-earned tax dollars,” Gibbons said in a recent statement.
The Department of Motor Vehicles said the earliest Nevadans would be mailed out their rebate checks is the end of September, the newspaper reported. Guinn wants the checks sent out in July.