28-2460. Collector car auction special plates; fund

A. If, by December 31, 2017, a person pays thirty-two thousand dollars to the department for the implementation of this section, the department shall issue collector car auction special plates. The person that provides the thirty-two thousand dollars shall design the collector car auction special plates. The design and color of the collector car auction special plates are subject to the approval of the department. The director may allow a request for collector car auction special plates to be combined with a request for personalized special plates. If the director allows such a combination, the request shall be in a form prescribed by the director and is subject to the fees for the personalized special plates in addition to the fees required for the collector car auction special plates.

B. Of the twenty-five dollar fee required by section 28-2402 for the original special plates and for renewal of special plates, eight dollars is a special plate administration fee and seventeen dollars is an annual donation.

C. The department shall deposit, pursuant to sections 35-146 and 35-147, all special plate administration fees in the state highway fund established by section 28-6991 and all donations collected pursuant to this section in the collector car auction special plate fund established by this section.

D. The collector car auction special plate fund is established consisting of monies deposited pursuant to this section. The director shall administer the fund. The first thirty-two thousand dollars in the fund shall be reimbursed to the person that paid the implementation fee to the department pursuant to subsection A of this section. Not more than ten percent of monies deposited in the fund annually shall be used for the cost of administering the fund. Monies in the fund are continuously appropriated.

E. The director shall annually allocate monies from the fund, excluding administrative fees, to a charitable organization that is qualified under section 501(c)(3) of the United States internal revenue code for federal income tax purposes and that is affiliated with a collector car auction company that meets all of the following:

1. Is headquartered in this state.

2. Has been operating in this state for over twenty consecutive years.

3. Is a public consignment auction dealer as defined in section 28-4301.

4. Auctions more than one thousand collector vehicles for no reserve each year in this state.

F. On notice from the director, the state treasurer shall invest and divest monies in the fund as provided in section 35-313, and monies earned from investment shall be credited to the fund.