281.687 Vehicle license cost recovery fee charged by motor vehicle renting
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/ky/281-687A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
company.
(1)As used in this section:
(a)"Motor vehicle renting company" means a holder of a certificate as required
under KRS 281.630 to operate as a U-Drive-It, which regularly engages in
renting or leasing motor vehicles to customers for less than a sixty
(60)day
term as part of an established business;
(b)"Vehicle license costs" means the costs incurred by a motor vehicle renting
company for licensing, titling, registration, property tax, plating, and
inspecting rental motor vehicles; and
(c)"Vehicle license cost recovery fee" means a charge on a vehicle rental
transaction originating within the Commonwealth that is separately stated on
the rental agreement to recover vehicle license costs.
(a)If a motor vehicle renting company includes a vehicle license cost recovery
fee as a separately stated charge in a rental transaction, the amount of the fee
shall represent the company's good-faith estimate of the motor vehicle rental
company's daily charge to recover its actual total annual vehicle license costs.
(b)If the total amount of the vehicle license cost recovery fees collected by a
motor vehicle renting company under this section in any calendar year exceeds
the company's actual vehicle license costs, the motor vehicle renting company
shall:
1. Retain the excess amount; and
2. Adjust the vehicle cost recovery fee for the following calendar year by a
corresponding amount.
(3)Nothing in this section shall prevent a motor vehicle renting company from
including, or making adjustments during the calendar year to, separately stated
surcharges, fees, or charges in the rental agreement, which may include but are not
limited to vehicle license cost recovery fees, airport access fees, airport concession
fees, consolidated facility charges, and all applicable taxes.