TALLAHASSEE (CBSMiami/NSF) – Governor Rick Scott signed a bill on Wednesday which rolls back vehicle-registration fees that were increased in 2009.
The measure was one of Scott’s top priorities for the legislative session.
“Last winter, we announced our intent to return $500 million to Floridians by cutting taxes. Today, we are rolling back many of the 2009 tax increases on annual motor vehicle registrations. This will result in an annual savings of $25 per typical motor vehicle and will let families keep nearly $400 million of their hard-earned money in their own pockets—because it’s their money,” said Scott in a statement.
Lawmakers and then-Gov. Charlie Crist approved the fee increases in 2009, amid a state budget shortfall.
The bill is expected to save motorists a total of $309 million during the upcoming 2014-15 budget year, with the new, lower rates going into effect Sept. 1. The savings are expected to grow to about $395 million, once the cuts are in effect for the full 12 months of a fiscal year.
The fee cuts are expected to play a prominent role in Scott’s re-election campaign, as he faces a likely challenge from Crist.
The News Service of Florida contributed to this report.