CARSON CITY, NV — The Nevada Senate and Assembly introduced similar bills on March 25 to use some of the state's surplus funds to give residents rebates on their vehicle registrations, according to the Associated Press. The state has $300 million in extra funds – some estimate even more – that could be used for the rebates or other one-shot spending proposals. The Senate bill, SB366, is sponsored chiefly by Sen. Bob Beers, and would rebate to drivers either $100 or the full registration fee they would pay per vehicle, whichever is less. The Assembly bill, AB447, chiefly sponsored by Assemblywoman Sharron Angle, would do the same thing, but with the flat rebate rate increased to $300. Drivers could use the rebates only against vehicle registration fees paid in fiscal 2006, so those who have moved out of state would get the credit. Also ineligible for the rebate would be corporations, trusts and unions. Beers' bill calls for $65.4 million for the rebates while Angle's bill would appropriate to the Department of Motor Vehicles three times as much money, or $196.3 million, to pay the for the rebate credits. Both Beers and Angle signed on to each other's bills. Gov. Kenny Guinn unveiled his DMV rebate plan during his State of the State address in January. He also proposed a rebate of up to $300 per vehicle. Legislators have questioned time and again whether a registration rebate is really the best way to spend the state's surplus funds, which resulted from a strong economy and increased taxes passed during the 2003 session.

Originally posted on Fleet Financials