Plain English Breakdown
Checked against official source text during the last sync.
Special License Plates for Virginia REALTORS
This law changes special license plates for members of the Virginia REALTORS to a revenue-sharing type and creates a new fund that helps with disaster relief.
What This Bill Does
- Changes existing non-revenue sharing special license plates for Virginia REALTORS to revenue-sharing plates.
- Creates a new fund called the Virginia REALTORS Disaster Relief Fund using part of the fees collected from these special plates.
- Requires members to pay an extra $25 fee each year for the special plates, with some money going into the disaster relief fund.
- Allows existing plates to be used until they expire and can then be renewed under new rules.
Who It Names or Affects
- Members of Virginia REALTORS who want special license plates
- The Department of Motor Vehicles which issues these plates
Terms To Know
- Revenue-sharing
- A system where part of the money collected goes to a specific fund or group.
- Disaster Relief Fund
- Money set aside to help people and businesses after disasters like hurricanes or floods.
Limits and Unknowns
- The law does not specify how much money will be collected from the special plates.
- It is unclear how many members of Virginia REALTORS will apply for these special plates.